EURUSD gives up gains but not bearish yet

EURUSD switches back to losses after touching resistance; technical signals weaken, but bears not in control yet
XM Group | vor 733 Tagen

  • EURUSD switches back to losses after touching resistance
  • Technical signals weaken but bears not in control yet

 

EURUSD was harshly pressured after touching its 50-day exponential moving average (EMA), erasing almost all the gains it made last week ahead of the ECB policy announcement.

The price went below its 20-day EMA, and the RSI dropped below 50, causing concerns of potential market dominance by sellers in the short-term.

On a positive note, there is a short-term bullish channel in the chart that is currently protecting against downward pressure around 1.0540. The upper band of the former bearish channel could also cease selling pressure nearby at 1.0508. If the bears breach that base, the price could tumble towards October’s low of 1.0447, while a step below 1.0400 could cause a sharp decline towards the November 2022 barrier of 1.0330.

If the price drifts higher and above the constraining 20-day EMA at 1.0584, the spotlight will turn again to the 50-day EMA, which is converging towards the 23.6% Fibonacci retracement of the latest downleg at 1.0640. A successful battle there might lift the pair towards the channel’s upper boundary at 1.0700. Still, only a decisive rally above the 200-day EMA and the 38.2% Fibonacci mark of 1.0763 would brighten the short-term outlook.

Overall, the latest aggressive pullback in EURUSD has yet to confirm a bearish bias. For that to happen, the pair will need to slide below 1.0508. 

 

XM Group
Typ: Market Maker
Vorschrift: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)
read more
The Fed will make things clear

The Fed will make things clear

• Strong statistics are helping the dollar. • The Fed may spring a surprise. • The US asks the Bank of Japan to loosen its grip. • The Aussie becomes the favourite.
FxPro | vor 9Std 39 Minuten
A Key Day for EUR/USD as the Fed Decision Looms

A Key Day for EUR/USD as the Fed Decision Looms

The EUR/USD pair declined to 1.1642 on Wednesday, with investor attention firmly fixed on the Federal Reserve's impending policy decision. The central bank is widely expected to cut interest rates by 25 basis points.
RoboForex | vor 11Std 18 Minuten
Oil Slips as OPEC+ Output Plans Weigh on Markets | 29th October 2025

Oil Slips as OPEC+ Output Plans Weigh on Markets | 29th October 2025

Global markets turned cautious as reports of a potential OPEC+ output hike weighed on oil and risk sentiment. WTI fell near $60.00, while the USD stayed firm ahead of FOMC and BoC meetings. Gold held near $4,250, EUR/USD eased under 1.1650, and NZD/USD hovered near 0.5780. Traders await policy clarity and OPEC+ confirmation to set next direction.
Moneta Markets | vor 13Std 48 Minuten
The euro's second chance

The euro's second chance

• Trade war de-escalation. • The Fed will continue to cut rates. • Politics is holding back the euro. • Verbal interventions are helping the yen.
FxPro | vor 1 Tagen
ATFX Market Outlook 28th October 2025

ATFX Market Outlook 28th October 2025

U.S. equities extended gains on Monday, with all three major indexes closing at record highs for the second straight session. Optimism over a potential U.S.–China trade deal, combined with anticipation for this week’s Big Tech earnings and the Federal Reserve’s policy decision, fueled the rally.
ATFX | vor 1 Tagen
Central banks are in the spotlight this week

Central banks are in the spotlight this week

• Increased risk appetite divides G10 currencies • The US and Canada intend to lower rates. • The ECB and BoJ have opted for a wait-and-see approach. • Japan may resume interventions.
FxPro | vor 2 Tagen
​ATFX Market Outlook 27th October 2025

​ATFX Market Outlook 27th October 2025

U.S. September consumer prices rose slightly less than expected, as a surge in gasoline costs was partly offset by a sharp decline in rents, supporting expectations for a Fed rate cut this week. U.S. equities closed at record highs on Friday, driven by the softer inflation data and strong corporate earnings.
ATFX | vor 2 Tagen