EUR/USD Price Analysis: Solid hurdle emerged around 1.2180

EUR/USD reverses the initial optimism and returns to 1.2150/40.
Further north is located the 2021 peak at 1.2349 (January 6).

Pablo Piovano FXStreet

EUR-bulls failed once again to push EUR/USD past the 1.2180/90 band at the beginning of the week.

This area of resistance is also reinforced by the 21-day SMA, today at 1.2191. A break above this level should pave the way for a potential move to 2021 tops around 1.2350 (January 6).

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1626.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2144
Today Daily Change	48
Today Daily Change %	-0.20
Today daily open	1.2168

Trends
Daily SMA20	1.2198
Daily SMA50	1.2113
Daily SMA100	1.1942
Daily SMA200	1.1641

Levels
Previous Daily High	1.219
Previous Daily Low	1.2152
Previous Weekly High	1.219
Previous Weekly Low	1.2054
Previous Monthly High	1.231
Previous Monthly Low	1.1924
Daily Fibonacci 38.2%	1.2166
Daily Fibonacci 61.8%	1.2175
Daily Pivot Point S1	1.215
Daily Pivot Point S2	1.2132
Daily Pivot Point S3	1.2112
Daily Pivot Point R1	1.2188
Daily Pivot Point R2	1.2208
Daily Pivot Point R3	1.2226

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.

EUR/USD looks sidelined around 1.1850

EUR/USD remains on the back foot, extending its bearish tone and sliding towards the 1.1850 area to print fresh daily lows on Monday. The move lower comes as the US Dollar gathers modest traction, with thin liquidity and subdued volatility amplifying price swings amid the US market holiday.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.