Key Highlights
- EUR/USD failed near 1.1495 and started a downside correction.
- It traded below a key bullish trend line with support near 1.1385 on the 4-hours chart.
Looking at the 4-hours chart, the pair started a downside correction below the 1.1450 level. The pair spiked below the 38.2% Fib retracement level of the upward move from the 1.1124 swing low to 1.1494 high.
Besides, there was a break below a key bullish trend line with support near 1.1385 on the same chart. It tested the 100 simple moving average (red, 4-hours) and the 200 simple moving average (green, 4-hours).
The next major support is near the 1.1310 level. It is near the 50% Fib retracement level of the upward move from the 1.1124 swing low to 1.1494 high.
Any more losses could push EUR/USD towards the 1.1250 support. On the upside, the pair might face sellers near the 1.1400 level. The main breakout resistance is still near the 1.1480 and 1.1500 levels.
Titan FX is registered and regulated in New Zealand under FSP388647. Our global headquarters and operational hub is located in Auckland, New Zealand.
Recommended Content
Editors’ Picks
GBP/USD battles 1.2300 ahead of BoE interest rate decision

GBP/USD is battling 1.2300, refreshing a five-month low.in European trading on Thursday. The pair is weighed by the Fed's hawkish stance and increased odds of a BoE rate hike pause, following a surprise fall in UK inflation and SNB's unexpected rates-on-hold decision.
EUR/USD keeps losses below 1.0650 amid firmer US Dollar

EUR/USD is trading close to weekly lows below 1.0650 in the early European morning on Thursday. The Fed, as expected, kept rates unchanged but indicated that one more rate hike before the year-end could be appropriate. US yields surges to multi-year highs, driving the US Dollar higher.
Gold remains steady around $1,930, focus on US data

Gold price hovers around $1,930 during the early trading hours of the European session on Thursday. Investors seem to shift their focus on upcoming US data after the US Federal Reserve's decision on policy rates.
Solana price sustains recovery rally despite falling daily active addresses

Sol shows strong bullish momentum, which has seen the ETH killer break out from a descending parallel channel. The daily active addresses on-chain metric fails to mirror this optimism.
SNB unexpectedly leaves Deposit Rate unchanged at 1.75%

At its quarterly monetary policy assessment on September 21, the SNB kept the benchmark Sight Deposit Rate on hold at 1.75%. The rate decision was against the market expectations of a 25 basis points (bps) rate hike to 2.0%.