|

EUR/USD Technical Analysis: A test of the 1.1080 region looks unlikely near term

  • EUR/USD has already entered the pre-ECB lull, trading in a consolidative fashion around the 1.1040/50 area.
  • Nothing is expected to happen before the ECB event on Thursday. On a dovish surprise, spot is seen returning to sub-1.10 region and testing YTD lows near 1.0920.
  • On the other hand, a potential disappointment from the ECB could see the pair testing last week’s tops in the 1.1080 region and paving the way for a probable challenge to the resistance line at 1.1122 ahead of late August peaks around 1.1160.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.1042
Today Daily Change23
Today Daily Change %-0.05
Today daily open1.1047
 
Trends
Daily SMA201.107
Daily SMA501.1148
Daily SMA1001.1189
Daily SMA2001.1268
Levels
Previous Daily High1.1068
Previous Daily Low1.1016
Previous Weekly High1.1085
Previous Weekly Low1.0926
Previous Monthly High1.1251
Previous Monthly Low1.0962
Daily Fibonacci 38.2%1.1048
Daily Fibonacci 61.8%1.1036
Daily Pivot Point S11.1019
Daily Pivot Point S21.0991
Daily Pivot Point S31.0967
Daily Pivot Point R11.1072
Daily Pivot Point R21.1096
Daily Pivot Point R31.1124

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

More from Pablo Piovano
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD stays bid above 1.1700 as risk flows dominate

EUR/USD posts small gains above 1.1700 in early European trading hours on Monday. The US Dollar remains broadly subdued amid a risk-on market profile, underpinning the pair. 

GBP/USD clings to recovery gains near 1.3400

GBP/USD is clinging to recovery gains near 1.3400 in early Europe on Monday. The pair capitalizes on an upbeat market mood and a steady US Dollar as traders digest the recent

 monetary policy decisions by the Fed and the BoE.

Gold hits fresh record highs above $4,400 amid renewed geopolitical woes

Gold is hitting fresh record highs above $4,400 early Monday, helped by renewed geopolitical tensions. Israel-Iran conflict and US-Venezuela headlines drive investors toward the traditional store of value, Gold. 

Bitcoin, Ethereum and Ripple eye breakout for fresh recovery

Bitcoin, Ethereum, and Ripple are approaching key technical levels at the time of writing on Monday as the broader crypto market stabilizes. Market participants are closely watching whether BTC, ETH, and XRP can sustain breakouts and achieve decisive daily closes above nearby resistance levels, which could signal the start of a short-term recovery.

De-dollarisation by design: Gold’s partner in the new system

You don’t need another 2008 for the system to reset. You just need enough nations to stop settling trade in dollars. And that’s already happening. "If gold is the anchor, what actually moves value in a post-dollar world?” It’s a question most gold investors overlook. We think in terms of storage and preservation, but in the new rails being built, settlement speed matters just as much as soundness of money.

XRP rebounds amid ETF inflows and declining retail demand demand

XRP rebounds as bulls target a short-term breakout above $2.00 on Friday. XRP ETFs record the highest inflow since December 8, signaling growing institutional appetite.