The Euro fell at the start of European session on Thursday and erased all gains of recovery rally in Asia, in attempts to extend Wednesday’s strong fall (the pair was down 0.6%).
Wednesday’s bearish outside day adds to negative outlook, as bears took out the last obstacles on the way to 1.1215 target and key m/t support (12/13 Nov lows).
Daily MA’s in full bearish setup and momentum in steep descend support scenario, but stochastic reverses from oversold territory and may slow bears.
Falling 5SMA caps today’s action for now and marks initial resistance at 1.1288, with stronger upticks expected to stall under 1.1340 (tops of Wed/Tue, reinforced by falling 10SMA) to keep bears in play.
Only sustained break above the latter would weaken bearish structure and signal possible stronger recovery towards plethora of falling daily MA’s (20/55/30/100) at 1.1369/1.1410 zone.

Res: 1.1288; 1.1340; 1.1369; 1.1410
Sup: 1.1249; 1.1215; 1.1186; 1.1105



Interested in EURUSD technicals? Check out the key levels

    1. R3 1.1398
    2. R2 1.1371
    3. R1 1.1319
  1. PP 1.1291
    1. S1 1.1239
    2. S2 1.1212
    3. S3 1.116


The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD remains depressed but off daily lows

The EUR/USD pair is recovering from a daily low of 1.1216, although holding in negative territory for the day. US preliminary Michigan Consumer Sentiment Index improved by less-than-anticipated in July, coming in at 98.4 vs. the 98.5 expected.


GBP/USD trading marginally lower daily basis but above 1.2500

The Pound gave back some of its Thursday’s gain on dollar’s relief. The GBP/USD pair broke a daily descendant trend line coming from June’s high and holds above it, leaving little room for sellers to act.


USD/JPY: bears pausing, still in control

Japanese National Inflation steady at 0.7%YoY in June. US Michigan Consumer Sentiment Index expected at 98.5 in July. USD/JPY corrective advance falling short of signaling an interim bottom in place.


Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more

Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News