EUR/USD Regains Momentum But Can It Continue Higher?

Key Highlights

  • EUR/USD started a fresh increase above the 1.1680 resistance zone.
  • It cleared a key bearish trend line with resistance at 1.1660 on the 4-hour chart.
  • GBP/USD is struggling to clear the 1.3520 and 1.3550 resistance levels.
  • USD/JPY started a fresh increase above the 147.50 level.

EUR/USD Technical Analysis

The Euro formed a base above the 1.1550 level against the US Dollar. EUR/USD started a fresh increase above the 1.1660 and 1.1700 resistance levels.

Looking at the 4-hour chart, the pair settled above the 1.1700 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a clear move above the 50% Fib retracement level of the downward move from the 1.1829 swing high to the 1.1565 low.

On the upside, the pair now faces resistance near the 1.1765 level. It is close to the 76.4% Fib retracement level of the downward move from the 1.1829 swing high to the 1.1565 low.

The next key resistance sits near the 1.1800 level. A close above the 1.1800 level could set the pace for another increase. In the stated case, the pair could rise toward the 1.1840 resistance. The next major stop for the bulls could be near the 1.1880 resistance.

On the downside, immediate support is near the 1.1700 level and the 100 simple moving average (red, 4-hour). The next key support sits near 1.1660. Any more losses could send the pair toward the 1.1620 support zone.

Looking at GBP/USD, the pair is showing bearish signs and might decline below the 1.3420 support zone.

Upcoming Economic Events:

  • Dallas Fed Manufacturing Business Index for July 2025 – Forecast -12.0, versus -12.7 previous.

Source link

Visited 1 times, 1 visit(s) today

Related Article

EUR/GBP Weekly Outlook - Action Forex

Markets Back Dollar Strength, Await Australian Inflation Clarity

Dollar’s broad-based advance continues today, underpinned by firm sentiment that recent US trade deals with the EU and Japan mark the clearing of major global trade risks, at least for now. Though US–China talks continue in Stockholm, markets appear unbothered. Officials on both sides have indicated willingness to negotiate terms and extend the August 12

EUR/GBP Weekly Outlook - Action Forex

EUR/USD Mid-Day Outlook – Action Forex

Daily Pivots: (S1) 1.1526; (P) 1.1648; (R1) 1.1711; More… Intraday bias in EUR/USD remains on the downside with focus on 55 D EMA (now at 1.1538). Sustained break there will argue that fall from 1.1829 is already correcting the whole rise from 1.0176. Deeper decline should then be seen to 38.2% retracement of 1.0176 to

UBS to Reportedly Fire Up to 36,000 Staff After Credit Suisse Takeover

Swiss Banking Giant UBS Retreats From FX After Trump Damage

UBS’s FX product retreat marks a decisive shift for the Swiss banking giant, and right now, following President Trump’s tariff announcements that actually triggered massive client losses in complex currency derivatives. The world’s second-largest wealth manager has ordered bankers to scale back sales of sophisticated forex instruments after clients suffered hundreds of millions in losses,

A person looking at a phone.

2 Brilliant Growth Stocks to Buy Now and Hold for the Long Term

Both of these stocks have significant long-term opportunities and an edge over their peers. The stock market took a sharp dip early this year, which can be scary for investors, not knowing how long a downturn might last. There have been bear markets that have gone on for years, and it’s not easy to stay

image

S&P 500 Analysis Today 29/07: Fresh Apex Height (Chart)

Yesterday started with a flourish for the S&P 500 as it jumped upwards upon opening and soon hit a high of nearly 6,429.00, this before selling off slightly and touching the 6,380.00 vicinity. The profit taking was then met by more buying and the S&P 500 was testing the 6,400.00 mark again. Monday’s buying surge