- EUR/USD loses further momentum and challenges 1.0800.
- Extra declines look likely once 1.0800 is cleared.
EUR/USD retreats further and puts the 1.0800 support to the test on Tuesday.
A drop below the latter should pave the way for a deeper retracement to, initially, the intermediate 100-day SMA at 1.0774 ahead of the 55-day SMA at 1.0684.
So far, while above the significant 200-day SMA at 1.0819, the pair’s outlook should remain constructive.
EUR/USD 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 rises toward 1.0950 on softer US Dollar
![EUR/USD rises toward 1.0950 on softer US Dollar](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/euro-coins-gm520443967-49899402_XtraSmall.jpg)
EUR/USD rebounds to near 1.0950, snapping a two-day losing streak on Thursday. Broad US Dollar weakness provides some support to the pair. Nonetheless, the risk-off sentiment could limit EUR/USD's upside amid escalating geopolitical risks. US data eyed.
GBP/USD clings to modest daily gains above 1.2700
![GBP/USD clings to modest daily gains above 1.2700](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/iStock-170160529_XtraSmall.jpg)
GBP/USD breaks its three-day losing streak, trading around 1.2700 during the Asian session on Thursday. This upside could be attributed to the weaker US Dollar as the US Federal Reserve is widely anticipated to implement a more aggressive rate cut beginning in September.
Gold: For how long can XAU/USD defend the key daily support?
![Gold: For how long can XAU/USD defend the key daily support?](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stacked-gold-bars-13094022_XtraSmall.jpg)
Gold price is attempting a tepid bounce while below $2,400 early Thursday, pausing a five-day losing streak, as the US Dollar sees fresh selling alongside the US Treasury bond yields.
Ethereum eyes a rally as on-chain data show bullish signs
![Ethereum eyes a rally as on-chain data show bullish signs](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Ethereum/ethereum_4_XtraSmall.jpg)
Lookonchain data indicates that nine spot Ethereum ETFs saw inflows of 44,447 ETH, valued at $110.1 million, on Wednesday, marking two consecutive days of net inflows this week.
Blaring the bear market siren
![Blaring the bear market siren](https://editorial.fxstreet.com/images/TechnicalAnalysis/Positioning/bear-market-gm182744280-13137293_XtraSmall.jpg)
The market may long for a peaceful passage, but we're gearing up for what looks to be more akin to a rollercoaster expedition. Prepare for a potentially "Turbulent Thursday" and brace for what might become a "Frantic Friday."