- EUR/USD bulls look to break the 1.1250s resistance.
- Bears are lurking following a series of higher closes.
EUR/USD was higher by some 0.18% in late New York trade after it fell from Monday's minor new trend high at 1.1249 to Friday's 1.12045 low before moving back to the upside with eyes on a break of channel resistance. The US Dollar is on the back foot again following last week's tumble — its biggest drop of the year — as the market prepares for US Retail Sales on Tuesday.
EUR/USD daily charts
Meanwhile, the price displaced to the upside and this could lead to a significant correction for the days ahead as the above daily chart illustrates.
EUR/USD H4 chart
The market is coiled and a breakout could be on the cards. However, the following shows, there are prospects of a bullish continuation also:
EUR/USD H1 chart
We had a recent spike to the downside as the hourly chart shows. we have subsequently rallied and a break of the 1.1250s could be imminent.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD: Recovery remains capped below 1.0300
EUR/USD is consolidating its recovery below 1.0300 in the European morning on Friday. The pair breathes a sigh of relief as the US Dollar rally stalls even as markets stay cautious amid geopolitical risks and Trump's tariff plans. The focus remains on US ISM PMI data and central bank talks.
GBP/USD retakes 1.2400, as focus shifts to US ISM PMI data
GBP/USD rebounds to test 1.2400 in the European session on Friday. A minor pullback in the US Dollar allows the pair to find some respite after having lost over 1% on the outset of the New Year on Thursday. All eyes remain on the US ISM PMI data and Fedspeak for further impetus.
Gold price rises due to safe-haven demand as Biden discusses plans to strike Iran
Gold price receives support from safe-haven flows as Joe Biden discussed contingency plans to strike Iran’s nuclear facilities. The dollar-denominated Gold could struggle as the US Dollar Index trades around its multi-year high of 109.56, reached on Thursday.
Bitcoin, Ethereum and Ripple eyes for a rally
Bitcoin’s price finds support around its key level, while Ethereum’s price is approaching its key resistance level; a firm close above it would signal a bullish trend. Ripple price trades within a symmetrical triangle on Friday, a breakout from which could signal a rally ahead.
Three Fundamentals: Year-end flows, Jobless Claims and ISM Manufacturing PMI stand out Premium
Money managers may adjust their portfolios ahead of the year-end. Weekly US Jobless Claims serve as the first meaningful release in 2025. The ISM Manufacturing PMI provides an initial indication ahead of Nonfarm Payrolls.
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.