EUR/USD Price Analysis: Still scope for extra losses

EUR/USD manages to rebound past the 1.0900 hurdle.
A drop below 1.0844 exposes extra retracements near term.

Pablo Piovano FXStreet

EUR/USD reverses six consecutive daily pullbacks and regains the 1.0900 hurdle and above on Monday.

If the pair resumes the downside it is expected to revisit the August low of 1.0844 (August 18) prior to the July low of 1.0833 (July 6). The loss of this region leaves the pair vulnerable to a probable test of the critical 200-day SMA at 1.0792 in the short-term horizon.

In the meantime, the pair’s positive outlook remains unchanged while above the 200-day SMA.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0893
Today Daily Change	48
Today Daily Change %	0.19
Today daily open	1.0872

Trends
Daily SMA20	1.0969
Daily SMA50	1.0978
Daily SMA100	1.0931
Daily SMA200	1.0791

Levels
Previous Daily High	1.0894
Previous Daily Low	1.0845
Previous Weekly High	1.096
Previous Weekly Low	1.0845
Previous Monthly High	1.1276
Previous Monthly Low	1.0834
Daily Fibonacci 38.2%	1.0864
Daily Fibonacci 61.8%	1.0875
Daily Pivot Point S1	1.0846
Daily Pivot Point S2	1.0821
Daily Pivot Point S3	1.0798
Daily Pivot Point R1	1.0895
Daily Pivot Point R2	1.0919
Daily Pivot Point R3	1.0944

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 holds steady near 0.7200 amid escalating US-Iran tensions

AUD/USD consolidates just below its highest level since mid-May, touched on Friday, and hovers around 0.7200 at the start of a new week amid mixed cues. Hawkish RBA expectations continue to act as a tailwind for the Aussie. Meanwhile, the upbeat US NFP report lifted Fed rate hike bets, which, along with escalating US-Iran tensions, underpins the safe-haven US Dollar and caps the currency pair.

USD/JPY hovers around 156.00 as more hawkish BoJ bets cap gains

USD/JPY holds steady above 156.00 on Monday as the US Dollar draws support from escalating US-Iran tensions and rising Fed rate-hike bets, bolstered by Friday's upbeat NFP report. Moreover, concerns over Japan’s fiscal outlook keep the Japanese Yen on the back foot and support the currency pair, though more hawkish BoJ expectations and a suspected intervention cap the upside.

Gold sticks to losses as bears await acceptance below $4,400 amid Fed rate hike bets

Gold attracts some sellers for the second straight day, though it lacks follow-through, and hovers around the $4,400 mark heading into the European session. Moreover, the commodity holds above Friday's swing trough, touched in reaction to the upbeat US monthly employment details, warranting some caution for bearish traders before positioning for any further losses.

Cardano: Strengthening momentum points to cautious upside extension

Cardano trades around $0.222 after rallying over 15% last week. Mixed derivatives data and mildly bullish on-chain metrics point to cautious market sentiment. Meanwhile, strengthening momentum indicators suggest ADA could see further gains if the recovery continues. Cardano derivatives metrics show a mixed sentiment. CoinGlass’ long-to-short ratio for ADA reads 0.94 on Monday.

US Dollar Weekly Forecast: Why one inflation report could matter more than a blockbuster NFP?

Joy can’t last forever, can it? The US Dollar rapidly faded its prior gains and resumed its marked downside this week, with the US Dollar Index coming close to its psychological 100.00 barrier, only to see that dream turn to ashes as market chatter reignited speculation that the Bank of Japan might hike its policy rate at its next meeting.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.