EUR/USD Price Analysis: Holds bullish tone despite mild pullback from highs

EUR/USD trades near the 1.1500 zone after drifting modestly lower post-European session.
Technical outlook remains bullish overall, with MACD signaling buy and moving averages aligned higher.

Patricio Martín FXStreet

The EUR/USD pair is flashing a bullish signal, currently trading around the 1.1500 area after posting a slight decline during Tuesday’s session following the European close. Despite the intraday dip, the pair maintains its broader upward trajectory and remains anchored near the middle of the session’s range between 1.1455 and 1.1547.

From a technical perspective, indicators present a slightly mixed bias. The Relative Strength Index (RSI) is above 70, hinting at overbought territory and flashing a mild sell signal. However, the Moving Average Divergence Convergence (MACD) remains firmly bullish, continuing to support upside momentum. The Ultimate Oscillator and Bull Bear Power both sit in neutral territory, offering no clear directional cue.

The bullish case is strongly reinforced by moving averages. The 20-day, 100-day, and 200-day Simple Moving Averages (SMAs) — at 1.1099, 1.0618, and 1.0762, respectively — are all trending upward. Short-term dynamics are also favorable, with the 10-day EMA and SMA positioned around 1.1325–1.1328, offering immediate support.

Daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD stays below 1.1850 after dismal German sentiment data

EUR/USD stays in negative territory below 1.1850 in the second half of the day on Tuesday. Renewed US Dollar strength, combined with a softer risk tone keep the pair undermined alongside downbeat German ZEW sentiment readings for February.

GBP/USD falls toward 1.3550, pressured by weak UK jobs report

GBP/USD remains under bearish pressure and extends its decline below 1.3600 on Tuesday. The United Kingdom employment data suggested worsening labor market conditions, bolstering bets for a BoE interest rate cut next month and making it difficult for Pound Sterling to stay resilient against its peers.

Gold recovers modestly, stays deep in red below $4,950

Gold (XAU/USD) stages a rebound but remains deep in negative territory below $4,950 after touching its weakest level in over a week near $4,850 earlier in the day. Renewed US Dollar strength makes it difficult for XAU/USD to gather recovery momentum despite the risk-averse market atmosphere.

Canada CPI expected to show sticky inflation in January, still above BoC’s target

Economists see the headline CPI rising by 2.4% in a year to January, still above the BoC’s target and matching December’s increase. On a monthly basis, prices are expected to rise by 0.1%.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.