EUR/USD update – Euros look under pressure

Carol Harmer Charmer Trading

At this current time, the Euro remains under pressure following its failure to break above the 200-day moving average. Yesterday, price kissed the short-term 9-day M/A, and although the market appears steady, the weekly chart tells a different story.

From the 1.0200 area, we’ve seen a solid rally — but the weekly structure suggests a top may have formed in 2025. Technical indicators on that timeframe look weak, and momentum is fading.
For today, we look to the Daily Pivot Point at 1.1627 to guide direction. We’re currently trading around this level, but it’s still early doors.

Key levels to watch:

200-day M/A: 1.1674.
R1: 1.1657.
R2: 1.1691.
R3: 1.1715 — intersects with the 38.2% Fib at 1.1726.
9-day M/A: 1.1648.
23.6% Fib: 1.1642.

There’s clear confluence overhead — sellers are watching and waiting for a chance to strike and drive the market lower.
The DXY looks strong, but it has extended higher than EURUSD has traded lower — this could be a catch-up scenario.

For today, I believe it’s safer to sell rallies than to try picking a bottom. If we lose 1.1570, expect further selling pressure to emerge.
This is not investment advice — my money, my risk.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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