EUR/USD technical analysis: MACD turns bearish with 21-DMA, 23.6% Fibo. be key nearby resistance

  • EUR/USD seesaws near two-week low while being under 1.1157/60 confluence.
  • MACD flashes bearish signals.

Following its drop to early-month levels, the EUR/USD pair takes the rounds to 1.1108 during Friday’s Asian session.

12-bar moving average convergence and divergence (MACD) indicate bearish signal for the pair, which in turn highlights 1.1100, 1.1070 and 1.1060 as near-term key supports ahead of pushing bears towards recent low near 1.1027.

In a case prices slip below 1.1027, 1.1000 and 1.0980 could become sellers’ favorites.

Meanwhile, 1.1130 can offer immediate resistance to the pair whereas 23.6% Fibonacci retracement of January-August downpour and 21-day simple moving average (DMA) could restrict further upside around 1.1157/60.

If prices rally beyond 1.1160, June month low at 1.1181 gain market attention.

EUR/USD daily chart

Trend: Bearish

    1. R3 1.1215  
    2. R2 1.1188  
    3. R1 1.1147  
  1. PP 1.112 
    1. S1  1.108
    2. S2   1.1052
    3. S3   1.1012


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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD flirts with 1.1100 as the dollar loses steam

The EUR/USD pair bounced from a daily low of 1.1065, as demand for the greenback receded during US trading hours. Upside caped for the shared currency amid fears of a German recession, Italian political turmoil.


GBP/USD losses upside momentum at the start of the key day

While optimism surrounding soft Brexit helped the GBP/USD pair to rise on the previous day, the Cable retraces to 1.2165 amid initial Wednesday morning in Asia. The UK PM’s visit to Germany will be closely observed.


USD/JPY: Dollar's progress stalls on softer US yields and weakness in stocks

The USD/JPY snapped a three-day winning streak on Tuesday with a bearish engulfing candle, as the US treasury yields fell. Notably, the US two-year Treasury yields dropped from 1.52% to 1.49% on Tuesday and the benchmark 10-year yield from 1.59% to 1.55%.


Gold: Bulls cheer pullback from 10-day EMA

Following its successful bounce off 10-day exponential moving average (EMA), Gold takes the bids to $1507 during the early Asian session on Wednesday. The yellow metal now heads to Friday’s high around $1528 ahead of questioning the monthly top surrounding $1535.

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Planning the next bullish move after consolidating gains

Trading cryptos is not a one-way street – meteoric unstoppable gains belong to the past. Nevertheless, the bullish sentiment seems to prevail. Digital coins advanced on Monday and are consolidating on Tuesday. 

Read more