EUR/USD Analysis Summary Today
- Overall Trend: In a bearish shift.
- Today's Euro/Dollar Support Levels: 1.1120 – 1.1065 – 1.0980.
- Today's Euro/Dollar Resistance Levels: 1.1200 – 1.1270 -1.1350.
EUR/USD Trading Signals:
- Buy EUR/USD from the support level of 1.0970 with a target of 1.1150 and a stop-loss at 1.0880.
- Sell EUR/USD from the resistance level of 1.1270 with a target of 1.1000 and a stop-loss at 1.1360.
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EUR/USD Technical Analysis Today:
According to recent trading, it appears that the EUR/USD pair is recovering from a sharp selling wave, rising to retest a previous support area. The EUR/USD pair is currently trading at 1.1189, attempting to regain some momentum after finding support near its lows at 1.1061. The price is now testing the 38.2% Fibonacci retracement level at 1.11850, which could be a crucial decision point to determine the next direction of the EUR/USD pair. A larger correction could reach the 50% Fibonacci retracement level at 1.1223 or the 61.8% level, which aligns with the broken support at the key psychological level of 1.1300.
At the same time, the moving averages show mixed signals at the moment. The 200-day Simple Moving Average (SMA) is trending upwards, indicating that the long-term trend remains bullish. 1 However, the 100-day SMA has started to curve downwards, suggesting some weakening in medium-term momentum. The Stochastic oscillator recently rebounded from the oversold zone and is heading upwards, indicating a return of buying pressure that may support the ongoing recovery. The strong upward trajectory of the oscillator suggests that bulls may have short-term control.
The Relative Strength Index (RSI) has also turned upwards from its recent decline towards the oversold zone, confirming the bullish Stochastic signal. However, the RSI remains relatively modest in the mid-range, indicating that buying momentum, while present, is not yet significantly strong. If any of the Fibonacci retracement levels manage to curb gains, the EUR/USD pair may revisit its recent lows near 1.1062 or lower. On the other hand, a break above the Fibonacci levels could trigger a new upward move towards its highs at the 1.1500 level.
Trading Tips:
Be cautious. The direction of the EUR/USD will remain dependent on sentiment regarding the resolution of the US trade dispute with other global economies and the future policies of global central banks.
Amid a bearish shift for the Euro against the US dollar, the Euro may be affected by upcoming economic data from the Eurozone and the United States, with a particular focus on any hints about the future policy paths of the European Central Bank and the Federal Reserve. Market participants will also monitor any changes in risk sentiment that may affect the safer US dollar or the relatively riskier Euro. Today, the German Consumer Price Index (CPI) reading will be announced at 9:00 AM Egypt time. There are no significant US economic releases today.
According to Forex market trading, the US dollar was in retreat again, giving up a significant portion of the gains it made at the start of this week's trading. This comes despite continued appetite for equities and rising US Treasury yields. The latter will be a key focus, as long-term bond yields have begun to approach their highs recorded in April. Overall, the US dollar's performance has been difficult despite the prevailing conditions in global markets. It can be pointed out that the US CPI report, which came in weaker than expected . However, remember that we have not yet seen any significant impact from US tariffs. In any case, the US dollar has lost some of its gains, and we are now beginning to see doubts about the near-term technical levels.
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