EUR/USD Price Analysis: Bounces from one-month-low as doji emerges at around 1.0940s

EUR/USD falls to 1.0912 but rebounds before breaching 1.0900, trading at 1.0942 with a slight gain of 0.04% on Thursday.
A potential doji formation shows market indecision; the pair might consolidate within the 1.0900/1.1000 range, with 100-day EMA at 1.0894 as a key support level.
Resistance lies at 1.0971 (50-day EMA), with further upside targets at 1.1000, 1.1020 (29-day EMA), and 1.1100. Conversely, a breach below the 100-day EMA could lead to further losses toward 1.0833 and 1.0800.

Christian Borjon Valencia FXStreet

The EUR/USD fell to a one-month-low of 1.0912 but bounced before breaching below the 1.0900 figure and is gaining traction, as the major gains 0.04% on Thursday. Hence, the EUR/USD is trading at 1.0942, about to form a doji, which depicts indecision among buyers and sellers.

EUR/USD Price Analysis: Technical outlook

It should be said the EUR/USD dropped below the 50-day Exponential Moving Average (EMA) at 1.0871, suggesting the pair is accelerating its downtrend, but the 100-day EMA at 1.0894 capped the EUR/USD’s fall to test the July 6 swing low of 1.0833. Despite the fact that the EUR/USD’s scenario is turning bearish, the pair might consolidate within the 1.0900/1.1000 area, as a downslope trendline passes around 1.1000, while the 100-day EMA could cushion the EUR/USD around 1.0900.

However, if EUR/USD extends its losses past the latter, the 100-day EMA around 1.0894 would be tested. A breach of the latter would immediately expose the July 6 low at 1.0833, followed by the 1.0800 figure, ahead of the 200-day EMA.

Conversely, if the EUR/USD reclaims the 50-day EMA at 1.0971, the 1,1000 figure would be up for grabs. Break above would set the stage to test the 29-day EMA at 1.1020, followed by the 1.1100 mark.

Oscillator-wise, the Relative Strength Index (RSI) remains in bearish territory, but its slope is almost turning neutral. The three-day Rate of Change (RoC) portrays a positive divergence, as the RoC aims upward, while EUR/USD’s price action extends its losses. Nevertheless, a doji emerging at around 1.0900 could signal buyers to enter the market.

EUR/USD Price Action – Daily chart

EUR/USD

Overview
Today last price	1.0942
Today Daily Change	0.0004
Today Daily Change %	0.04
Today daily open	1.0938

Trends
Daily SMA20	1.1074
Daily SMA50	1.0926
Daily SMA100	1.0913
Daily SMA200	1.0734

Levels
Previous Daily High	1.102
Previous Daily Low	1.0918
Previous Weekly High	1.115
Previous Weekly Low	1.0944
Previous Monthly High	1.1276
Previous Monthly Low	1.0834
Daily Fibonacci 38.2%	1.0957
Daily Fibonacci 61.8%	1.0981
Daily Pivot Point S1	1.0898
Daily Pivot Point S2	1.0857
Daily Pivot Point S3	1.0796
Daily Pivot Point R1	1.1
Daily Pivot Point R2	1.1061
Daily Pivot Point R3	1.1102

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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