Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
James Hyerczyk
eur usd

The Euro is trading higher against the U.S. Dollar shortly before the U.S. opening on Monday. There was a slight follow-through to the downside early in the session, following Friday’s potentially bearish closing price reversal top, but the selling dried up quickly.

At 1031 GMT, the EUR/USD is trading 1.1656, up 0.0033 or +0.28%.

Know where EUR/USD is headed? Take advantage now with 

75% of retail CFD investors lose money


Daily Technical Analysis

The main trend is up according to the daily swing chart. However, momentum shifted to the downside with the formation of the closing price reversal top on Friday. A trade through 1.1723 will negate the chart pattern and signal a resumption of the uptrend.

The main trend changes to down on a trade through 1.1526.

The short-term range is 1.1526 to 1.1723. Its retracement zone at 1.1625 to 1.1601 is support. It is also controlling the near-term direction of the Forex pair.

The main range is 1.1301 to 1.1734. If the trend changes to down then its retracement zone at 1.1518 to 1.1466 will become the primary downside target.

Suggested Articles


Daily Technical Forecast

Based on the early price action, the key area to watch is the Gann Angle/50% price cluster at 1.1626 to 1.1625. Early in the session, the EUR/USD tested this area.

A sustained move over 1.1626 will indicate the presence of buyers. If this move gains enough traction then look for a minimum test of 50% of the break from 1.1723 to 1.1618. This intraday target is 1.1671.

Overtaking 1.1671 will signal that the buying is getting stronger.

A sustained move under 1.1625 will signal the presence of sellers. This could lead to a quick test of 1.1601.

The daily chart begins to open up under 1.1601 with the next target angle coming in at 1.1576. We could see a technical bounce on the first test of this level but if it fails then look for a potential acceleration to the downside with 1.1531 the next major angle.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.