EUR/USD remains vulnerable near 1.1750

  • EUR/USD keeps pressuring a critical support area on Friday.
  • US dollar mixed on Friday and over the week ahead of the FOMC meeting.

The EUR/USD remains unable to make a sustained recovery and it keeps pressuring the 1.1750 area. After reaching 1.1780, the pair dropped back to the daily low at 1.1752. The euro is about to end the week under pressure and looking vulnerable, but so far still above a critical short-term support.

So far it has been a quiet Friday for EUR/USD, not affected neither by US data nor comments and rumors about the European Central Bank. PMIs in Europe came in above expectations and mixed in the US, but price action remained limited.

Next week, many economic reports from the Eurozone are due, however, the key event will be the Federal Reserve meeting. “The dollar should stay gently bid into Wednesday’s FOMC meeting. Despite lockdown concerns elsewhere in the world fuelled by the Delta variant, we expect the Fed will have to deal with the realities of above-trend growth and inflation. While it may not specify exactly when it is ready to taper, the tone should generally support the view that tapering should emerge in 4Q this year, with the possibility of a first hike coming in 4Q22”, said ING analysts.

Lowest weekly close in months

The EUR/USD is about to post the second weekly decline in a row and the second-lowest since October of last year. “On a weekly basis, technical readings indicate that there is room for further declines. The pair has posted a lower low for a fourth consecutive week, as well as lower highs. The 20 SMA gains bearish momentum far above the current level, while technical indicators maintain their strong bearish slopes within negative levels”, explained Valeria Bednarik, analyst at FXStreet.

According to Bednarik, the EUR/USD is bearish and poised to complete a 100% retracement of its March/May rally and reach 1.1703. “Even further, the pair is developing within a descendant channel coming from June 25 high at 1.1974.”

Technical levels



Today last price 1.176
Today Daily Change -0.0011
Today Daily Change % -0.09
Today daily open 1.1771
Daily SMA20 1.1838
Daily SMA50 1.2007
Daily SMA100 1.1979
Daily SMA200 1.2007
Previous Daily High 1.183
Previous Daily Low 1.1758
Previous Weekly High 1.188
Previous Weekly Low 1.1772
Previous Monthly High 1.2254
Previous Monthly Low 1.1845
Daily Fibonacci 38.2% 1.1785
Daily Fibonacci 61.8% 1.1803
Daily Pivot Point S1 1.1742
Daily Pivot Point S2 1.1713
Daily Pivot Point S3 1.1669
Daily Pivot Point R1 1.1815
Daily Pivot Point R2 1.1859
Daily Pivot Point R3 1.1888



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

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD remains pressured after US data misses estimates

EUR/USD is trading closer to 1.1750, paring its recovery from earlier in the day as the safe-haven dollar is bid. US Consumer Sentiment missed estimates with 72 points in September. The financial woes of China's Evergrande are weighing on sentiment.


GBP/USD trades under 1.38 amid on UK data, dollar strength

GBP/USD is on the back foot, trading under 1.38 after UK Retail Sales figures disappointed with -0.9% in August, worse than expected. Brexit uncertainty and dollar demand weighed on the pair earlier. 


XAU/USD surrenders intraday gains, drops closer to $1,750 level

Gold struggled to preserve its intraday gains and dropped to the lower end of the daily trading range during the early North American session. 

Gold News

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing. Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more