- EUR/USD falls to 1.0912 but rebounds before breaching 1.0900, trading at 1.0942 with a slight gain of 0.04% on Thursday.
- A potential doji formation shows market indecision; the pair might consolidate within the 1.0900/1.1000 range, with 100-day EMA at 1.0894 as a key support level.
- Resistance lies at 1.0971 (50-day EMA), with further upside targets at 1.1000, 1.1020 (29-day EMA), and 1.1100. Conversely, a breach below the 100-day EMA could lead to further losses toward 1.0833 and 1.0800.
The EUR/USD fell to a one-month-low of 1.0912 but bounced before breaching below the 1.0900 figure and is gaining traction, as the major gains 0.04% on Thursday. Hence, the EUR/USD is trading at 1.0942, about to form a doji, which depicts indecision among buyers and sellers.
EUR/USD Price Analysis: Technical outlook
It should be said the EUR/USD dropped below the 50-day Exponential Moving Average (EMA) at 1.0871, suggesting the pair is accelerating its downtrend, but the 100-day EMA at 1.0894 capped the EUR/USD’s fall to test the July 6 swing low of 1.0833. Despite the fact that the EUR/USD’s scenario is turning bearish, the pair might consolidate within the 1.0900/1.1000 area, as a downslope trendline passes around 1.1000, while the 100-day EMA could cushion the EUR/USD around 1.0900.
However, if EUR/USD extends its losses past the latter, the 100-day EMA around 1.0894 would be tested. A breach of the latter would immediately expose the July 6 low at 1.0833, followed by the 1.0800 figure, ahead of the 200-day EMA.
Conversely, if the EUR/USD reclaims the 50-day EMA at 1.0971, the 1,1000 figure would be up for grabs. Break above would set the stage to test the 29-day EMA at 1.1020, followed by the 1.1100 mark.
Oscillator-wise, the Relative Strength Index (RSI) remains in bearish territory, but its slope is almost turning neutral. The three-day Rate of Change (RoC) portrays a positive divergence, as the RoC aims upward, while EUR/USD’s price action extends its losses. Nevertheless, a doji emerging at around 1.0900 could signal buyers to enter the market.
EUR/USD Price Action – Daily chart
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 bounces off lows, retests 1.1370
Following an early drop to the vicinity of 1.1310, EUR/USD now manages to regain pace and retargets the 1.1370-1.1380 band on the back of a tepid knee-jerk in the US Dollar, always amid growing optimism over a potential de-escalation in the US-China trade war.
GBP/USD trades slightly on the defensive in the low-1.3300s
GBP/USD remains under a mild selling pressure just above 1.3300 on Friday, despite firmer-than-expected UK Retail Sales. The pair is weighed down by a renewed buying interest in the Greenback, bolstered by fresh headlines suggesting a softening in the rhetoric surrounding the US-China trade conflict.
Gold remains offered below $3,300
Gold reversed Thursday’s rebound and slipped toward the $3,260 area per troy ounce at the end of the week in response to further improvement in the market sentiment, which was in turn underpinned by hopes of positive developments around the US-China trade crisis.
Ethereum: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.