|

EUR/USD outlook: Bears extend through key Fibo support after double upside failure

EURUSD

Downside risk increases as Euro extends weakness below trendline support (1.1180) and key Fibo point at 1.1169 (61.8% of 1.1111/1.1263), after double upside rejection at 30SMA (Wed / Thu).
Weaker pound on fresh negative news regarding Brexit, drags the single currency, with stronger dollar adding pressure.
Eurozone’s Apr CPI came in line with expectations, but below previous month’s figure, that additionally weighs.
Fresh bearish momentum is building up and daily MA’s are in full bearish configuration, setting scope for further weakness, which looks for bearish signal on weekly close below cracked Fibo support at 1.1169.
Oversold daily stochastic warns that bears might be briefly paused.
Broken bull-trendline now marks solid resistance, with extended upticks expected to remain below a cluster of daily MA’s (5;10;20 SMA) and 4-hr cloud base at 1.1200 zone.

Res: 1.1180; 1.1200; 1.1224; 1.1246
Sup: 1.1158; 1.1147; 1.1134; 1.1111

EURUSD

Interested in EURUSD technicals? Check out the key levels

    1. R3 1.1273
    2. R2 1.1249
    3. R1 1.1214
  1. PP 1.119
    1. S1 1.1155
    2. S2 1.1131
    3. S3 1.1096

Author

Slobodan Drvenica

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

More from Slobodan Drvenica
Share:

Editor's Picks

EUR/USD consolidates around 1.0900, bullish bias remains ahead of key US data

The EUR/USD pair is seen consolidating its strong gains registered over the past two days and oscillating in a narrow band during the Asian session on Tuesday. Spot prices currently trade around the 1.1900 mark, just below an over one-week high touched the previous day.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300. 

Gold retreats below $5,050 on profit-taking ahead of US data

Gold price attracts some sellers in the Asian session on Tuesday, falling back below $5.050. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders look to the US Retail Sales data and Fedspeak due later in the day ahead of Wednesday's Nonfarm Payrolls release.  

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

The market is buying everything again but is it dancing on a borrowed floor

The market has a short memory and a fast trigger finger. Last week’s liquidation barely cooled before risk came roaring back, pushing the S&P toward record territory and reinstalling Big Tech as the engine of choice. This is not discovery. It is re exposure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.