EUR/USD: the bid is stalling at 1.0680 on profit taking

Ross J Burland FXStreet

Currently, EUR/USD is trading at 1.0640, up 0.64% on the day, having posted a daily high at 1.0685 and low at 1.0572.

EUR/USD has levelled out at the mid-point of the 1.06 handle on the back of broad based dollar weakness as the market unwinds the Trump hysteria trade after yesterday's lack of conviction or indeed anything concrete or soft for the matter in respect to fiscal policy. "In these circumstances, uncertainty related to President elect Trump's policies could result in a bumpy ride for the US dollar in the year ahead," explained analysts at Bank of Tokyo Mitsubishi, adding, "The US dollar rally is already long in the tooth, but appears set for one final leg higher."

High growth unsustainable without reform – FOMC’s C.Evans

EUR/USD levels

Spot is presently trading at 1.0641, and next resistance can be seen at 1.0646 (Daily Classic R1), 1.0658 (Weekly Classic R1), 1.0685 (Daily High), 1.0719 (Daily Classic R2) and 1.0782 (Weekly Classic R2). Next support to the downside can be found at 1.0634 (Monthly High), 1.0629 (Hourly 20 EMA), 1.0623 (Yesterday's High), 1.0599 (Weekly High) and 1.0599 (YTD High).

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 1.0552

25% Bullish
58% Bearish
17% Sideways

Bias Bearish

1 Month

Avg Forecast 1.0433

25% Bullish
75% Bearish
0% Sideways

Bias Bearish

1 Quarter

Avg Forecast 1.0311

6% Bullish
69% Bearish
25% Sideways

Bias Bearish

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD recovers further from one-month low set on Friday, eyes mid-1.1800s on weaker USD

The EUR/USD pair is seen building on Friday's late recovery from the 1.1750-1.1740 region, or a nearly one-month trough, and gaining some follow-through positive traction at the start of a new week. The momentum lifts spot prices to the 1.1835 area during the Asian session and is sponsored by a broadly weaker US Dollar.

GBP/USD gathers strength above 1.3500 amid tariff confusion

The GBP/USD pair gains traction to around 1.3520 during the early Asian session on Monday. The US Dollar faces some selling pressure against the Cable as tariff uncertainty lingers. Traders will take more cues from the US Producer Price Index report for January, which will be published later on Friday.

Gold eyes a daily closing above key 61.8% Fibo resistance

Gold is adding over 1% early Monday, after having gained 2% on Friday. The bright metal scales key technical hurdles, as buyers stay strong amid renewed tariffs and economic uncertainty alongside looming US-Iran geopolitical tensions.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.