EUR/USD Price Analysis: Bears leave their foot print on daily candle

EUR/USD bears in charge on the back of the daily bearish engulfing candle.
There are prospects of a meanwhile correction as per the lower time frames.

Ross J Burland FXStreet

EUR/USD is on the back foot for the start of the week following a strong offer on Friday as the US dollar firms around central bank themes and risk-off tones.

The following illustrates EUR/USD's technical outlook from a daily and hourly perspective.

EUR/USD daily chart

As per the daily chart, the price has penetrated the prior daily lows in a strong bearish engulfing candle. This leaves the bias with the bears on the way to a test of 1.12 the figure for the week ahead.

EUR/USD H1 chart

The euro's hourly chart sees the price in a strong downtrend also. However, there is scope for a meanwhile correction back to test above 1.1250 towards a 50% mean reversion that has a confluence with prior lows and previous support structure.

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD consolidates below 1.1700 amid cautious markets

EUR/USD is holding steady below 1.1700 in the European trading hours on Thursday. The pair pauses its losing streak as the US Dollar consolidates the recent recovery amid a cautious market mood and ahead of the mid-tier US employment data.

GBP/USD turns lower to near 1.3450 amid softer risk tone

GBP/USD loses ground to trade near 1.3450 in the early European session on Thursday. Markets turn cautious amid simmering geopolitical tensions and ahead of the US labor market data due later in the day.

Gold sticks to intraday losses below $4,450; seems vulnerable to slide further

Gold maintains its offered tone through the first half of the European session and currently trades near the lower end of its daily range, down for the second straight day. The downfall lacks any obvious fundamental catalyst and could be attributed to some follow-through profit-taking ahead of the release of the US Nonfarm Payrolls report on Friday.

Pi Network flashes bearish potential as selling pressure mounts

Pi Network trades above $0.2000 at press time on Thursday, following a nearly 2% decline the previous day. Centralized Exchanges have received 1.90 million PI tokens over the last 24 hours, suggesting risk-off sentiment among holders. The technical outlook for the PI token remains bearish, with a risk of a cross below the 20-day Exponential Moving Average.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.