It's testing 1.1090 for now but it has also formed a pair of spinning tops around that level so whether it will rally above that resistance is unclear.

It reached 1.1100 after all but is yet to break out above the last high at 1.1115. If it does we may see EUR/USD rallying to 1.1150 again.

It pulled back to the resistance and closed at 1.1060, next week it will likely continue falling.

EUR/USD: 1.0980 is the level to beat for the bears


According to Karen Jones, an analyst at Commerzbank, EUR/USD is poised to test the 1.0980 support area, having failed to clear the 5-month downtrend at 1.1113.

Key Quotes:

“EUR/USD has failed on its initial test of the 5-month downtrend at 1.1113. It is easing lower but has not taken any support of note out. Attention, therefore, remains on the topside and the downtrend guards the 1.1180 October high and the 1.1242 channel resistance and eventually the 1.1358 200-week ma. This latter level remains the critical breakpoint on the topside from a medium-term perspective. Key nearby support is the recent low at 1.0981.

Failure at 1.0980 targets the 1.0943 78.6% retracement. This is seen as the last defense for the 1.0879 October low and the 1.0814 Fibo retracement, and if seen, we will look for signs of reversal from here.”

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-1 ... 1912090633 (Article)

It's stubbornly consolidating around 1.1070 and since the winter holidays are coming closer and closer I assume we won't see big changes before they end.

mlawson71 wrote: Mon Dec 09, 2019 10:07 pm It's stubbornly consolidating around 1.1070 and since the winter holidays are coming closer and closer I assume we won't see big changes before they end.

Haha yes, poor EURUSD. It's in no man's land at the moment

EUR/USD capped by its 5 month downtrend – Commerzbank


According to Karen Jones, analyst at Commerzbank, EUR/USD may have failed on its initial test of the 5 month downtrend at 1.1111, however the sell-off has so far held over the 20 day ma at 1.1046.

Key Quotes

“It has not taken any support of note out and as a consequence attention therefore remains on the topside and the down trend guards the 1.1180 October high and the 1.1242 channel resistance and eventually the 1.1358 200 week ma. This latter level remains the critical break point on the topside from a medium term perspective.”

“Key nearby support is the recent low at 1.0981.”

“Failure at 1.0980 targets the 1.0943 78.6% retracement. This is seen as the last defence for the 1.0879 October low and the 1.0814 Fibo retracement, and if seen, we will look for signs of reversal from here.”

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-c ... 1912100650 (Article)

The pair remains very undecided, I think we will see it rally to 1.1100 again at best.

EUR/USD - Positive, supported by key Averages.

In line with yesterday's call, buyers were attracted around the 13/100 day mvg avg area for a 3rd day in a row. Gains were modest though and unable to effectively breach Friday’s Marabuzo line. That adds a strong note of caution but our intraday signals are positive and so our call for this morning is a Buy from 7am but leaving room to also Buy any Dip to 1.1066, Tuesday’s open. The risk is Friday’s 1.1039 low trade with an immediate target of 1.1111, Friday’s high. A move through that point then exposes sentiment to 1.1143, the top of the Keltner channel, and 1.1167, the 5 week open.

Supported by Key Averages


EUR/USD Current Trading Positions


Source: https://www.fxstreet.com/analysis/eurus ... 1912110639

EUR/USD market volatility is winding down more and more ahead of the holidays, I think we won't see a new big movement in either direction in the next few days.