Key highlights
-
EUR/USD is facing strong resistance near 1.1075.
-
A major bullish trend line is forming with support near 1.0990 on the 4-hour chart.
EUR/USD technical analysis
Looking at the 4-hour chart, the pair traded as high as 1.1095 before it corrected lower. There was a move below the 1.1020 support but the pair remained stable above the 100 simple moving average (red, 4 hours) and the 200 simple moving average (green, 4 hours).
The pair is now consolidating near the 1.1020 zone. Immediate resistance on the upside is near the 1.1050 level. The main breakout resistance is still near the 1.1075 level.
A clear upside break and close above the 1.1075 resistance might start a strong increase. The next key resistance is near the 1.1120 zone. Any more gains might send the pair toward 1.1200.
On the downside, there is major support near 1.1000 and the 100 simple moving average (red, 4 hours). There is also a major bullish trend line forming with support near 1.0990 on the same chart.
The next major support sits near the 1.0965 level, below which the pair might accelerate lower. In the stated case, EUR/USD could visit the 1.0920 support zone.
Titan FX is registered and regulated in New Zealand under FSP388647. Our global headquarters and operational hub is located in Auckland, New Zealand.
Recommended Content
Editors’ Picks
EUR/USD turns lower below 1.0350 after German data
EUR/USD comes under mild selling pressure and eases below 1.0350 in the European session on Wednesday. The pair bears the brunt of an unexpected slowdown in the German manufacturing sector, as the nation's Retail Sales data fail to inspire the Euro. Focus shifts to US ADP data and Fed Minutes.
GBP/USD stays defensive below 1.2500 ahead of key US data, Fed Minutes
GBP/USD stays defensive below 1.2500 in the European trading hours on Wednesday, undermined by a risk-off market sentiment and elevated US Treasury bond yields on increased hawkish Fed bets. Traders look to US data, Fedspeak and FOMC Minutes for fresh trading impulse.
Gold eyes US ADP report and Fed Minutes for next push higher
Gold price is consolidating the previous rebound near $2,650 early Wednesday, awaiting the US ADP jobs report and the Minutes of the US Federal Reserve December meeting for the next leg higher.
DOGE and SHIB traders book profits at the top
Dogecoin and Shiba Inu prices broke below their key support levels on Wednesday after declining more than 9% the previous day. On-chain data provider Santiments Network Realized Profit/Loss indicator shows massive spikes in these dog-theme memecoins, indicating traders realize profits.
Five fundamentals for the week: Nonfarm Payrolls to keep traders on edge in first full week of 2025 Premium
Did the US economy enjoy a strong finish to 2024? That is the question in the first full week of trading in 2025. The all-important NFP stand out, but a look at the Federal Reserve and the Chinese economy is also of interest.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.