EUR/USD Price Analysis: Bulls and bears battle it out at critical structures

EUR/USD bulls attempting to make a break for it
US dollar bears are pressing the bulls back below key trendline support.

Ross J Burland FXStreet

EUR/USD has been drifting to the upside as the US dollar tails off below micro daily trendline support as the following will illustrate. DXY has been pressured to below 111.50 but the pace of losses is slow and bulls are in play at times of bearish pressure. It's early days in what will be a busy week and coiled markets have a tendency to break out which could be on the cards for the week ahead.

The downside channel is dominant but there are risks of the price moving out of it to the topside.

The market is coiled and pressing against key resistance. If this holds, the downside will be in play, however.

For now, so long as the greenback remains supported at the trendline support, there will be risks of a significant move in the euro on a break of trendline support.

DXY technical analysis

The bull flag and combination with the rising trendline and W-formation make for a solid thesis for the upside. However, there are risks of a downside breakout with 111.00 vulnerable. Such a move will see the euro take off.

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 small gains near 1.3450 after UK jobs data

GBP/USD trades in positive territory at around 1.3450 in the European session on Tuesday. The UK ILO Unemployment Rate remained at 4.9% in the three months to May, compared with expectations of 5%, but failed to provide any impetus to the British Pound's renewed uptick. Traders stay cautious amid US-Iran uncertainty and the UK political transition.

EUR/USD keeps range above 1.1400 after German ZEW

EUR/USD is keeping its range above 1.1400 in Tuesday's European session, as the US Dollar (USD) retreats following Monday's rebound. Nevertheless, the uncertainty around the US-Iran conflict limits the pair's upside. Meanwhile, the Euro (EUR) pays little heed to the strong German sentiment data, as traders await Thursday's European Central Bank policy announcements, which could drive the Euro's near-term valuation.

Gold extends recovery toward $4,100

Gold gains traction following Monday's choppy action and advances toward $4,100 on Tuesday. However, the uncertainty surrounding the conflict in the Middle East and growing expectations for a hawkish Federal Reserve policy outlook could make it difficult for the precious metal to gather bullish momentum in the near term.

Bitcoin extends advance as ETF inflows, Iran war mediators' proposal lift risk mood

Bitcoin extends its gains, trading above $65,800 after closing above the key technical hurdle the previous day. The bullish price action is further supported by the return of institutional demand, with spot Exchange Traded Funds continuing their inflows on Monday. In addition, the renewed hopes for peace between the US and Iran have lifted risk sentiment, providing an additional tailwind for the Crypto King.

Buy the dip on the Dow Jones and S&P? Forex Trading Gold descending triangle

Trading during a war, a pandemic, during trade disputes, and other geopolitical events, especially when some major players are sociopathic, can be quite challenging. The Iran war is no exception. The Iran war is no exception.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.