EUR/USD seeking 1.1400 despite overly-cautious markets


  • Early Monday sees some risk appetite climb, but momentum remains tepid.
  • Christmas holidays see a serious wrench thrown into the works.

EUR/USD is catching some mild bidding action into 1.1390, winding through Monday's early trading session, after the pair got knocked sharply lower late last week. Monday has opened on the moderate side, though gains are seen on the limited side.

The Euro slipped from recent highs near 1.1485 late last week as investor sentiment continues to get knocked back by spiraling economic data and traders who remain fearful of a continued slowdown across the board impeding progress.

The economic calendar is free and clear of EU data to start the new week, and investors will likely be keeping a close eye on headlines for the day, as well as the Christmas holiday slated for Tuesday, though Monday does bring the US Chicago Fed's National Activity Index, slated to come in at 0.24%

EUR/USD Levels to watch

The fiber sees continued slowing progress, and despite the pair remaining trapped firmly within a familiar range for several months, and according to Mohammed Isah:

EURUSD faces risk of medium term trend resumption following its price reversal on Friday. Support lies at the 1.1300 level where a violation if seen will aim at the 1.1250 level. A break below here will aim at the 1.1200 level. Further down, support comes in at the 1.1150. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD continues to threaten further bear pressure. EURUSD faces risk of medium term trend resumption following its price reversal on Friday. Support lies at the 1.1300 level where a violation if seen will aim at the 1.1250 level. A break below here will aim at the 1.1200 level. Further down, support comes in at the 1.1150. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD continues to threaten further bear pressure. - Mohammed Isah

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 treads water around 1.1600 after US data

EUR/USD continues to fluctuate in its daily range around 1.1600 as the latest data releases from the US failed to trigger a meaningful market reaction. New Home Sales in the US surged by 14% in September and consumer sentiment improved in October.

EUR/USD News

GBP/USD retreats to 1.3800 area as dollar holds its ground

GBP/USD advanced to a daily high of 1.3830 during the European session but reversed its direction in the second half of the day. With the upbeat US data helping the greenback find demand, the pair retreated to 1.3800 area. Eyes on Brexit headlines.

GBP/USD News

Gold extends daily slide below $1,800 on rising US T-bond yields, upbeat data

The bearish pressure surrounding gold remains intact in the American trading hours on Tuesday. Rising US Treasury bond yields and the modest USD strength continues to weigh on XAU/USD. 

Gold News

Three reasons why MATIC price will breakout to a new all-time high at $4.5

MATIC price is breaking out of an ascending triangle pattern, hinting at a 150% ascent. Transactional data shows barely any resistance level ahead for Polygon, suggesting a swift move higher. The Layer 2 solution has been at the center of DeFi evolution.

Read more

AMC entertainment gains as meme stock rally continues from previous week

NYSE:AMC gained 0.63% during Monday’s trading session. Meme stocks rally on Monday as momentum carries over from the previous week. AMC CEO Adam Aron hints that the company could be getting into the cryptocurrency business.

Read more

Forex MAJORS

Cryptocurrencies

Signatures