EUR/USD: Bears take a breather above 1.1000 ahead of a Big week

  • EUR/USD stays cautious amid USD strength, Spanish election outcome.
  • Holiday-thinned quiet trading adds to the consolidative mood in Fiber.
  • All eyes remain on trade, US inflation and Eurozone GDP numbers.

Sellers catch their breather after the five-day losing streak, allowing a brief phase of consolidation in EUR/USD above the 1.1000, having tested the three-week lows of 1.1017 reached last Friday.

Trade news and US/ Eurozone macro data to play key roles

The spot is seen wavering up and down within a 10-pips narrow range so far this Monday, as markets await fresh updates on the US-China trade front as well as the big economic releases from both sides of Atlantic in the week ahead for the next direction. The US docket sees the releases of the US CPI data and Fed Chair Powell’s testimony while the EUR calendar headlines the Eurozone growth figures.

Meanwhile, the US dollar index sits at three-week tops of 98.40, deriving support from the US-China trade uncertainty as well as the Hong Kong political chaos induced broader market risk-aversion. Therefore, the increased safe-haven bids for the greenback keep a check on the major’s upside attempts.  

Further, the shared currency remains undermined by the Spanish general election outcome, reflecting a hung parliament; a legislative stalemate with neither the left nor right having a majority. The renewed Spanish political woes will continue to weigh, as the country is set to face a tough time forming a progressive government.

In the day ahead, the pair may keep its range trade intact amid holiday-thinned trading, with the US markets closed in observance of Veterans Day. However, the USD-dynamics will continue to have a major bearing on the spot amid fresh trade-related developments.

EUR/USD Technical levels to consider


Today last price 1.1023
Today Daily Change 0.0002
Today Daily Change % 0.02
Today daily open 1.1022
Daily SMA20 1.1102
Daily SMA50 1.104
Daily SMA100 1.1115
Daily SMA200 1.1188
Previous Daily High 1.1056
Previous Daily Low 1.1016
Previous Weekly High 1.1176
Previous Weekly Low 1.1016
Previous Monthly High 1.118
Previous Monthly Low 1.0879
Daily Fibonacci 38.2% 1.1032
Daily Fibonacci 61.8% 1.1041
Daily Pivot Point S1 1.1007
Daily Pivot Point S2 1.0992
Daily Pivot Point S3 1.0967
Daily Pivot Point R1 1.1047
Daily Pivot Point R2 1.1072
Daily Pivot Point R3 1.1087


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.


GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.


Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News