EUR/USD Showing Bearish Signs Below 1.1050

Aayush Jindal TitanFX

Key Highlights

The Euro started a fresh decline from the 1.1175 resistance against the US Dollar.
EUR/USD traded below a crucial bullish trend line at 1.1110 on the 4-hours chart.

EUR/USD Technical Analysis

The Euro faced a strong resistance near the 1.1175 area against the US Dollar. As a result, EUR/USD started a fresh decline below the 1.1150, 1.1120 and 1.1080 support levels.

Looking at the 4-hours chart, the pair declined heavily below the 1.1080 and 1.1050 support levels. Moreover, there was a close below the 100 simple moving average (red, 4-hours) and the 200 simple moving average (green, 4-hours).

More importantly, the pair traded below the 1.1073 swing low, plus the 1.236 Fib extension level of the upward move from the 1.1073 low to 1.1176 high.

It opened the doors for more losses below 1.1040. An immediate support is near the 1.1000 area or the 1.618 Fib extension level of the upward move from the 1.1073 low to 1.1176 high.

Any further losses may perhaps push EUR/USD towards the 1.0980 support area. On the upside, there are many hurdles on the upside near the 1.1050 and 1.1060 levels, above which the pair could revisit 1.1100.

Author

Aayush Jindal

TitanFX

I have spent over six years as a financial markets contributor and observer, and possess strong technical analytical skills. I am a software engineer by profession, loves blogging and observing financial markets.

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.