EURUSD eyes 2023 top after quick rally

EURUSD returns to positive trend after Powell confirms dovish policy adjustment. Technical signals reflect weakening positive bias; next resistance could be at 1.1240-1.1274.

XM Group | 377日前

EURUSD has had a great August so far, rising sharply from 1.0776 to nearly 1.1200 to mark its best monthly performance since November 2022.

The pair violated a bearish engulfing candlestick pattern after refusing to close below 1.1100 on Friday, increasing optimism that the rally might have more room to run. Nevertheless, it is crucial to be cautious as the RSI and stochastic oscillator display weakness in the overbought zone, indicating that selling interest persists.

The 1.1240-1.1274 area, which includes the 61.8% Fibonacci retracement of the 2021-2022 downtrend and the trendline from the 2022 trough, could keep the bulls busy in the short term. A move higher could hit a wall somewhere between 1.1340 and 1.1370, with the latter being a tough obstacle during November 2021-February 2022. If the battle there is won, it could trigger substantial buying up to the 2022 double top region of 1.1480.

Looking to the downside, a close below 1.1100 might lead the price towards the 20-day simple moving average (SMA) seen near 1.1000. A move lower could shift all the attention to the 50% Fibonacci of 1.0940 and the broken resistance trendline from July 2023. Then, the 50- and 200-day SMAs at 1.0880 and 1.0845 respectively could block an extension to 1.0780. If this does not occur, selling pressure could stretch towards the 1.0725 region.

All in all, EURUSD exited its 2024 sideways trajectory and might aim for new higher highs, though for a meaningful rally, it might need to cross above the 2023 barrier of 1.1240-1.1274.

XM Group

4.2

233 reviews

タイプ: Market Maker

規制: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)

タグ: 分析 EURUSD

Pound in Focus Ahead of UK Retail Sales as Majors Brace for Data | 5th September 2025

FX markets eye UK Retail Sales for GBP/USD direction, with data seen softer but key before NFP. EUR/USD holds above 1.1650 ahead of Eurozone GDP, while USD/JPY stays heavy near 147.00 on Fed cut bets and strong JPY data. DXY weakens toward 98.00; USD/CAD slips to 1.3800 as oil steadies. Volatility likely as data drives sentiment.

Moneta Markets | 2日前

Yen Weakens on BoJ Uncertainty as Kiwi and Aussie Hold Firm | 4th September 2025

The Yen weakened on BoJ ambiguity and political risks, while the Kiwi firmed above 0.5850 on soft US labor data. AUD steadied on strong trade surplus, and AUD/JPY hovered near 97.00 with a bullish bias. EUR/USD stayed near 1.1650 ahead of retail sales, and USD/JPY held above 147.00. Markets eye US jobs data and Eurozone figures for fresh direction.

Moneta Markets | 3日前

ATFX Market Outlook 4th September 2025

The Federal Reserve’s Beige Book indicated that overall economic activity was largely unchanged, with tariffs continuing to weigh on both businesses and households. Meanwhile, the JOLTS report showed a pronounced decline in job openings and an uptick in layoffs. Several FED officials reiterated that labor market conditions remain the primary driver behind their expectation of future rate cuts.

ATFX | 3日前

Silver Pulls Back After 14-Year Highs as Dollar Strengthens | 3rd September 2025

Silver eased from 14-year highs near $41 as profit-taking emerged, while the US Dollar Index rose toward 98.50 on safe-haven demand. EUR/USD slipped toward 1.1600, USD/JPY held above 147.00, and USD/CNY traded near 7.11 amid cautious PBoC guidance. Markets await US jobs, PMI, and Fed signals for FX and commodity direction.

Moneta Markets | 4日前

ATFX Market Outlook 3rd September 2025

U.S. stocks closed lower on Tuesday, with the U.S. manufacturing sector contracting for the sixth consecutive month in August, as investors assessed the outlook for President Trump's tariff policy after a federal appeals court ruled that most of his broadly imposed tariffs were illegal. Investors also awaited Friday's monthly U.S. jobs report.

ATFX | 4日前

Oil Extends Losses as Demand Concerns Weigh on Markets | 2nd September 2025

Oil slid below $64.50 on weak demand and supply worries, while silver surged past $40.50 to 14-year highs on safe-haven flows. The USD firmed, pressuring AUD and CAD, though EUR/USD held above 1.1700. USD/CAD stayed near 1.3750 as oil steadied. Traders eye U.S. inflation, Fed signals, OPEC moves, and Eurozone data for direction.

Moneta Markets | 5日前

ATFX Market Outlook 2nd September 2025

U.S. financial markets were closed on Monday for Labour Day. Last week, the dollar fell to a five-week low as investors awaited job market data that could influence the Federal Reserve's monetary policy. The euro rose 0.2% to 1.1709 against the dollar, while the pound increased 0.3% to 1.3543. The dollar gained 0.1% against the yen, trading at 147.17.

ATFX | 5日前

EUR/USD Gains Ground Amid Fresh Doubts Over the Fed

The EUR/USD pair rose to 1.1704 on Monday. The US dollar is trading near one-month lows as the market awaits a series of US labour market reports. These figures could influence the Federal Reserve's upcoming policy decisions.

RoboForex | 6日前

EURUSD	1.1717	GBPUSD	1.3508	AUDUSD	0.6555
USDJPY	147.392	USDCAD	1.38241	USDCHF	0.79791