Previous week saw rising volatility in the FX market , with EUR/USD closing close to 1.17810.
Economic Calendar Analysis
Low to moderate volatility levels may be considered the primary scenario, however, short-term fluctuations in Treasury yields could impact overall market volatility this week.
EUR/USD hourly chart analysis
EUR/USD pair is trading around 1.18188, having rebounded sharply from the recent low near 1.17410. Immediate resistance lies at the 200-period SMA around 1.18373 and the horizontal level at 1.18834, while support is at 1.18000 and the recent swing low at 1.17410.Hourly Chart
EUR/USD daily chart's review
The EUR/USD daily chart shows the pair trading at 1.18241, recovering modestly after dipping below the 50-day and 100-day SMAs, which now act as short-term support around 1.17730 and 1.16862 respectively. The 200-day SMA sits lower at about 1.16522, providing strong longer-term support. Immediate resistance is around 1.18300, close to recent highs, with further resistance near 1.19200 and 1.20500. The price has bounced off the 100-day SMA recently, signaling some buying interest, but the overall trend remains cautious as the pair struggles to break decisively above 1.18300. If the pair breaks above 1.18300, it could test 1.19200 and beyond, but failure to hold current support near 1.17730 could see it revisit the 100-day and possibly the 200-day SMA zone.Daily chart
Read More: Technical Analysis
Traders are going short
EUR/USD sentiment shows a slight majority of short positions (57.29%), yet the recent 14.58% decrease in longs indicates a move toward a more balanced, neutral market stance. With the exchange rate stabilizing around 1.1863, the lack of an extreme directional bias suggests the pair may enter a period of consolidation or sideways trading.