EUR/USD Price Analysis: A drop to the YTD low appears on the table

EUR/USD rebounds from new eight-month lows around 1.0490.
Further selling pressure should target the YTD low at 1.0481.

Pablo Piovano FXStreet

EUR/USD manages to regain some pace soon after hitting fresh multi-month lows in the 1.0490 region on Thursday.

The continuation of the downward bias should leave the pair vulnerable to further losses with the immediate target at the 2023 low at 1.0481 (January 6).

While below the key 200-day SMA at 1.0827, the pair is likely to face extra weakness.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0538
Today Daily Change	67
Today Daily Change %	0.33
Today daily open	1.0503

Trends
Daily SMA20	1.069
Daily SMA50	1.0845
Daily SMA100	1.0865
Daily SMA200	1.0829

Levels
Previous Daily High	1.0575
Previous Daily Low	1.0488
Previous Weekly High	1.0737
Previous Weekly Low	1.0615
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0521
Daily Fibonacci 61.8%	1.0542
Daily Pivot Point S1	1.0469
Daily Pivot Point S2	1.0435
Daily Pivot Point S3	1.0383
Daily Pivot Point R1	1.0556
Daily Pivot Point R2	1.0608
Daily Pivot Point R3	1.0642

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD clings to 1.3500 amid marginal losses

GBP/USD alternates gains with losses around the 1.3500 neighbourhood on Tuesday. Indeed, Cable struggles to further extend its incipient recovery in a context of continuous instability in the Middle East and modest gains in the Greenback.

EUR/USD alternates gains with losses near 1.1540

EUR/USD navigates a tight range near 1.1550 in the latter part of Tuesday’s NA session. The US Dollar’s vacillating price action accompanies the pair while market participants gear up for the crucial US inflation data due on Wednesday.

Gold loses the grip below $4,400

Gold retreats from its earlier tops and briefly revisited the $4,350 region per troy ounce on Tuesday. The yellow metal’s modest retracement follows lacklustre gains in the US Dollar and declining US Treasury yields across the curve, all amid steady uncertainty from the geopolitical landscape.

Shiba Inu Price Forecast: SHIB extends sell-off despite surging futures Open Interest

Shiba Inu (SHIB) maintains a bearish outlook on Tuesday, as it edges lower at $0.00000450. This marks the seventh day the meme coin has sustained a sell-off, weighed down by a weak technical structure. Shiba Inu derivatives continue to gain momentum, with perpetual futures Open Interest (OI) rising to 11.08 trillion SHIB on Tuesday, from 10.46 trillion the day before.

The inflation narrative is still way more important than the employment story

Core bonds sold off yesterday with the belly of the curve slightly underperforming in the US while European curves showed more of a bear flattening. Daily changes on the US curve varied between +4.7 bps (2-yr) and +6.4 bps (7-yr).

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.