EUR/USD tumbles under 1.1050, to lowest in three weeks as US dollar soars

  • Stronger US dollar, particularly against majors, sends EUR/USD sharply lower. 
  • US yields jump boosted the Greenback amid optimism on US/China deal. 

The EUR/USD pair accelerated to the downside and now has fallen more than fifty pips from the daily high. As of writing trades at 1.1035, the lowest level since October 16. 

USD rules, Wall Street at record highs, yields up

The move lower in EUR/USD is being driven by a rally of the US dollar, particularly against majors. Positive expectations about the outcome of the phase 1 deal between the US and China contributed to improving risk sentiment. US yields are rising sharply, with the 10-year at 1.914%, the highest level since early August. 

In Wall Street, equity prices are higher with indexes at record highs. The Dow Jones gains 0.91% and the Nasdaq 0.75%. The DXY is up 0.20%, back above 98.00, at three-week highs. At the same time, gold drops 1.25%

Double top and target at 1.0975?

The EUR/USD shows a double top formation around 1.1175 and now it is falling below the neckline of the formation seen around 1.1050/70. So a consolidation below that area would sign more losses ahead and a potential target at 1.0975. Before support levels might be seen at 1.1025 and 1.1000. A recovery above 1.1080 would negate the current bearish bias. 



Today last price 1.105
Today Daily Change -0.0019
Today Daily Change % -0.17
Today daily open 1.1069
Daily SMA20 1.1101
Daily SMA50 1.104
Daily SMA100 1.1121
Daily SMA200 1.1193
Previous Daily High 1.1094
Previous Daily Low 1.1064
Previous Weekly High 1.1176
Previous Weekly Low 1.1074
Previous Monthly High 1.118
Previous Monthly Low 1.0879
Daily Fibonacci 38.2% 1.1076
Daily Fibonacci 61.8% 1.1082
Daily Pivot Point S1 1.1058
Daily Pivot Point S2 1.1047
Daily Pivot Point S3 1.1029
Daily Pivot Point R1 1.1087
Daily Pivot Point R2 1.1105
Daily Pivot Point R3 1.1116



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 turns down as Trump touts trade hopes, after Lagarde's debut

EUR/USD is trading below 1.1130 after President Trump tweeted that the US is getting close to deal with China. Earlier, the ECB left rates unchanged and President Lagarde acknowledged the recent upturn.


GBP/USD retreats further from nine-month highs, nears 1.3100

GBP/USD has extended its decline amid renewed EUR demand within ECB’s monetary policy announcement. UK elections weigh as polls show a further narrowing in Conservatives’ advantage.


“Brexit as last” will trigger a relief rally even if there is a hung Parliament

Conventional wisdom has it we get a sterling rally if he wins and gets a ruling majority, while getting a hung Parliament means a drop in the pound.

Read more

Gold volatile after ECB, Trump's comments

It has been a rollercoaster day for gold so far on Thursday as the precious metal advanced 1% during the London session, only to give up all the gains and turn to sharp losses later in the day.

Read more

USD/JPY: Greenback jumps to four-day highs as trade tension ease

USD/JPY broke above the 109.00 handle as Trump is upbeat on the trade deal. Resistance is seen at the 109.26 and 109.43 price levels.