EUR/USD Price Analysis: Likely to bounce off 61.8% Fibonacci

  • EUR/USD struggles around the key Fibonacci retracement amid bullish MACD.
  • Prices have registered multiple failures to slip beneath 61.8% Fibonacci since December 20.
  • The monthly falling trend line can cap the recovery.

EUR/USD reverses the early-Asian pullback while declining to 1.1090 during Thursday. While considering the latest pullback, it seems to be clear that the pair respects 61.8% Fibonacci retracement of November 29 to December 31, 2018, upside as the strong support. Also favoring the odds of a U-turn are bullish signals from MACD.

With this, 50% and 38.2% Fibonacci retracement level of 1.1110 and 1.1140 gain the market’s attention.

However, a downward sloping trend line since December 31, at 1.1147, will restrict the pair’s recovery afterward, if not then 1.1200 will lure the bulls.

Meanwhile, a clear downside past-61.8% Fibonacci retracement level of 1.1079 can recall 1.1025 and 1.1000 on the charts.

During the pair’s extended south-run below 1.1000, 1.0980 and the yearly bottom of 2019 near 1.0880 will be in focus.

EUR/USD four hour chart

Trend: Pullback expected

Additional important levels

Today last price 1.1089
Today Daily Change -4 pips
Today Daily Change % -0.04%
Today daily open 1.1093
Daily SMA20 1.1143
Daily SMA50 1.1103
Daily SMA100 1.1072
Daily SMA200 1.1134
Previous Daily High 1.1099
Previous Daily Low 1.107
Previous Weekly High 1.1173
Previous Weekly Low 1.1086
Previous Monthly High 1.124
Previous Monthly Low 1.1002
Daily Fibonacci 38.2% 1.1088
Daily Fibonacci 61.8% 1.1081
Daily Pivot Point S1 1.1076
Daily Pivot Point S2 1.1058
Daily Pivot Point S3 1.1047
Daily Pivot Point R1 1.1105
Daily Pivot Point R2 1.1116
Daily Pivot Point R3 1.1134



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD retreats below 1.1300 area as NFP-inspired dollar weakness fades

EUR/USD jumped to a daily high of 1.1333 with the initial market reaction to the disappointing November Nonfarm Payrolls data but quickly returned below 1.1300. Rising US Treasury bond yields seem to be helping the dollar stay resilient against its major rivals. 


GBP/USDdrops to 1.3250 area as dollar regains strength

GBP/USD spiked above 1.3300 in the early American session with the initial market reaction to the gloomy US November jobs report. However, the greenback regathered strength on hawkish Fed commentary and forced the pair to turn south.


Gold struggles to capitalize on weak NFP data, holds near $1,770

Gold spiked to a daily high near $1,780 with the initial market reaction to the disappointing Nonfarm Payrolls data from the US but seems to be having a difficult time preserving its bullish momentum with the 10-year US T-bond yield staying resilient.

Gold News

The bull and the bear case for BTC

Bitcoin price saw a bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. Bitcoin is likely to experience massive volatility as the situation resolves over time. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!