FX pair moved to the downslide closing below 1.16000.
Economic Calendar Analysis
Continuing the previous week's trend, moderate levels of volatility may persist throughout the week, considering the fundamental data releases scheduled.
EUR/USD hourly chart analysis
EUR/USD is currently in a short-term bearish trend, characterized by lower highs and lower lows. The price is trading below key moving averages, which suggests that sellers are in control, although it is testing minor support. The 200 SMA is at around 1.1648, acting as the main resistance, while the 100 SMA is near 1.1628, where the price struggles to stay above. The 50 SMA is at 1.1613, and although the price recently crossed above it, it remains trapped between the 50 and 100 SMAs.Hourly Chart
EUR/USD daily chart's review
EUR/USD pair is currently in a consolidation phase, with price action centered around a key cluster of moving averages. After a multi-month uptrend starting in May, the pair has entered a sideways range and recently tested support near 1.1600. The 50-day SMA is acting as resistance near 1.1658, while the 100-day SMA is at 1.1634, close to the current price. The 200-day SMA, at 1.1587, provides long-term support and is critical for maintaining a bullish outlook. The price has recently pulled back from highs near 1.1780 and is testing the 1.1600 support. Key resistance is at 1.1870, the multi-month high, while secondary resistance lies at 1.1780, the previous peak from late 2025. Immediate support is at 1.1600, with major support at 1.1475, established in late 2025.Daily chart
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Traders are going long
The sentiment for EUR/USD shows that traders are fairly divided, with 56.12% of traders holding long positions and 43.88% holding short positions.