EUR/USD Analysis Summary Today
- Overall Trend: Upward.
- Today's Euro-Dollar Support Levels: 1.1290 – 1.1230 – 1.1180.
- Today's Euro-Dollar Resistance Levels: 1.1385 – 1.1455 – 1.1520.
EUR/USD Trading Signals:
- Buy Euro-Dollar from the 1.1255 support level with a target of 1.1440 and a stop-loss of 1.1180.
- Sell Euro-Dollar from the 1.1410 resistance level with a target of 1.1150 and a stop-loss of 1.1500.
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EUR/USD Technical Analysis Today:
The continued weakness of the US dollar in the forex markets allowed EUR/USD bulls to complete the upward trajectory, culminating in a move towards the resistance level of 1.1362, the pair's highest level in two weeks. Concurrently, the pair is stabilizing around its gains ahead of the announcement of the Purchasing Managers' Index (PMI) readings for the manufacturing and services sectors for the Eurozone and US economies. The European readings will begin with France at 10:15 AM Cairo time, followed by the German readings a quarter of an hour later, concluding with the Eurozone readings as a whole at 11:00 AM Cairo time.
US manufacturing and services PMI readings will be announced at 2:45 PM EEST. Prior to that, weekly US unemployment claims will be released. Overall, the results of these economic data will have a strong and direct impact on the performance of the EUR/USD pair, determining whether the week closes higher or lower.
Why Did Euro-Dollar Gains Persist?
According to performance across licensed currency trading platforms, Euro-Dollar gains have increased, supported by widespread US dollar weakness amid growing concerns about the American financial outlook. Discussions surrounding a proposed US tax cut bill have heightened fears that the budget deficit could worsen more rapidly than previously expected, following Moody's recent downgrade of the US credit rating.
Trading Tips:
Dear TradersUp follower, keep in mind that breaking the 1.14 resistance is an important sign of the bulls' strong control over the Euro-Dollar's direction. Monitor the factors influencing the currency pair and don't take undue risks.
In Europe, the European Central Bank's (ECB) Financial Stability Review for May 2025 highlighted increasing concerns about financial stability in the Eurozone, pointing to escalating geopolitical tensions and continued policy uncertainty. The ECB warned that a weak economic outlook and trade disruptions could negatively impact businesses and households, while new spending pressures – such as increased defence budgets – could challenge long-term debt sustainability.
Earlier in the same week, investor confidence was boosted by news of a preliminary agreement between the European Union and the United Kingdom on key issues including defence and security cooperation, fisheries, and youth mobility.
Technical Levels for the Euro vs. the US Dollar:
Dear TradersUp trader, based on the daily timeframe chart, the EUR/USD pair is moving within an upward channel. A move towards the psychological resistance of 1.1400 will strengthen the upward outlook, preparing for further technical upward breakouts. Despite recent gains, technical indicators still have room to move towards stronger upward levels before confirming an overbought trend. This is evident in the performance of the 14-day RSI and the MACD indicator, both poised for upward movement.
Currently, the nearest and most important resistance levels for Euro-Dollar are 1.1400, 1.1465, and 1.1530, respectively. Conversely, over the same period, the 1.1160 support level will remain a strong and real threat to the current upward trajectory. Overall, the rise in the Euro's price against the US dollar is driven by US financial risks. Speculation about coordinated intervention in the currency market is also weighing in. Consequently, the EUR/USD exchange rate continues its ascent amid a renewed deterioration in demand for the US dollar.
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