EUR/USD Price Analysis: Bears lurking at key resistance

EUR/USD bears are moving in at key resistance.
Bears eye the 61.8% Fibo and trendline support.

Ross J Burland FXStreet

EUR/USD has rallied into a resistance area and there are prospects of a correction as per the following weekly chart analysis:

EUR/USD weekly charts

The weekly chart is leaving a W-formation on the chart and the bulls have reached a resistance area which leaves the focus on the downside. However, the bears will need to be patient and wait for a deceleration of the current rally. The lower time frames can be monitored for this purpose.

EUR/USD daily chart

The daily chart shows the price leaving behind a W-formation, again, a bearish factor on the charts and a correction could be on the cards with the 38.2% ratio currently lining up with prior resistance.

EUR/USD H4 chart

This is where we are going to see the signs of deceleration as we move into Thursday. On the lower time frames, such as the 15 minutes, this will be even more evident and we can start to draw our key support areas as follows:

EUR/USD M15 chart

The price is moving into a potential distribution phase and a break of 1.1110/1.1090 could lead to a sell-off towards the trendline support and a 61.8% Fibonacci ratio.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.