EUR/USD Price Analysis: Bears in play while below 1.0950

EUR/USD bullish rally has faded and a topping pattern is in play.
There is a bearish bias while EUR/USD remains below 1.0950.

Ross J Burland FXStreet

As per the pre-open analysis at the start of this week, when there were reports by Reuters that the European Central Bank (ECB) officials were suggesting that the ECB is set to raise interest rates by 50 basis points in both February and March and will continue to raise rates in the months after, the euro has stuck tot he forecasted schematic as follows:

EUR/USD prior analysis

(Bearish schematic could be playing out)

It was stated that the Euro was in the barroom brawl, chopping around support and resistance. The analysis argued that if the bulls commit, then the 1.0870/90s and potentially the 1.09 psychological level could be attractive to the bears who are in anticipation of a premium for the opening sessions of the week.

EUR/USD update

The bullish rally has faded. There is still plenty to go, however, until critical US calendar events and the US dollar remains capped at resistance. Therefore, there are no dramatic moves expected over the course of the day ahead Nevertheless, a topping pattern is in play in EUR/USD and that leaves the bias to the downside while below 1.0950.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD clings to multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: XRP nears critical $1.00 support

Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.

Is Gold about to enter its biggest bull run since 2020?

Gold has stormed back into the spotlight and its next move could leave late buyers chasing. On August 5, the yellow metal surged almost 7% – roughly $174 – to close near $4,308 an ounce, posting one of its biggest daily advances in recent history. A weaker U.S dollar, falling Treasury yields, changing Federal Reserve expectations and renewed safe-haven demand all struck at once.

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.