EUR/USD Price Analysis: Extra gains target the 2023 high near 1.1100

EUR/USD extends Friday’s upside momentum to 1.1050.
Further strength could see the YTD high near 1.1100 revisited.

Pablo Piovano FXStreet

EUR/USD maintains the bid bias well in place and revisits the mid-1.1000s at the beginning of the week.

Further recovery appears on the table for the time being. The surpass of with the 2023 peak at 1.1095 (April 26) should encourage the pair to rapidly leave behind the round level at 1.1100 before embarking on a potential visit to the weekly high at 1.1184 (March 21 2022)

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0436.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.105
Today Daily Change	39
Today Daily Change %	0.27
Today daily open	1.102

Trends
Daily SMA20	1.0989
Daily SMA50	1.0839
Daily SMA100	1.0782
Daily SMA200	1.0434

Levels
Previous Daily High	1.1048
Previous Daily Low	1.0967
Previous Weekly High	1.1092
Previous Weekly Low	1.0942
Previous Monthly High	1.1095
Previous Monthly Low	1.0788
Daily Fibonacci 38.2%	1.1017
Daily Fibonacci 61.8%	1.0998
Daily Pivot Point S1	1.0975
Daily Pivot Point S2	1.0931
Daily Pivot Point S3	1.0894
Daily Pivot Point R1	1.1056
Daily Pivot Point R2	1.1093
Daily Pivot Point R3	1.1137

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.

AUD/USD sits near a one-month top, above 0.7000 amid fresh USD selling

AUD/USD holds above 0.7000 through the Asian session, trading near a one-month high touched earlier this Monday amid renewed US Dollar selling. US bond yields decline further amid a modest pullback in crude oil prices, capping the USD recovery from a three-week low. Moreover, bets for a November RBA rate hike support the Aussie, though upside seems capped ahead of the crucial two-day FOMC meeting, starting Tuesday.

USD/JPY struggles below 157.00 on weak USD; holds above one-month low ahead of Fed, BoJ meetings

USD/JPY attracts fresh sellers during the Asian session on Monday, stalling its recovery from the lowest level since September 18, touched Friday as a further decline in US bond yields weighs on the US Dollar. Meanwhile, the Japanese Yen benefits from a more hawkish BoJ, further weighing on the currency pair. The downside, however, seems limited as traders keenly await Fed and BoJ policy meetings later this week.

Gold sticks to modest recovery gains above $4,000 as Fed hike bets cap upside

Gold stages a modest recovery from the vicinity of a three-month low, trading above the $4,000 psychological mark through Monday’s Asian session amid a softer US Dollar. US President Donald Trump has ruled out immediate military action against Iran, triggering a modest pullback in crude oil prices. Furthermore, Federal Reserve officials have signaled no urgency to raise interest rates immediately.

Cardano's derivatives and on-chain data confirm bears in control

Cardano extends losses, trading below $0.202 after three consecutive weeks of more than 20% declines since early October. Selling pressure continues to build as weakening derivatives metrics, bearish on-chain signals and a deteriorating technical outlook point to further downside risks. Derivatives data shows a bearish bias for Cardano.

CFTC Report: WTI rally runs ahead of positioning

The week in one sentence: WTI prices surged while speculative longs were cut in the week to October 20, creating the clearest price/positioning divergence. Sterling and the Canadian Dollar led the constructive currency shift, while Yen longs also rebuilt. Speculators turned less constructive on the WTI, reducing their net exposure to around 89.3K contracts.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.