FX.co ★ EUR/USD

EURUSD Short-Term Analysis: We examine the real - time price changes of the EUR/USD currency pair. The EUR/USD pair is now trading at 1.12026 and is in a correction phase. I foresee another fall, but then a corrective come - back to 1.12326 before the pair continues its downward - trend. The Technical - indicators provide mixed signals, with the oscillator falling below the neutral - line, suggesting uncertainty. Earlier, the pair was severely oversold, allowing it to recover from recent lows. The nearest support level is 1.11436, which might hold up well against the current fall. However, despite meeting short-term price forecasts, the overall trend remains higher. Given this, I expect the rising trend continues. As a consequence, I have opted to purchase at 1.11881, with the expectation of more positive momentum. Recently, the EUR/USD broke over last week's bottom and rebounded after entering a buy imbalance zone, trading around 1.12036. The price behavior throughout the day indicates uncertainty, as indicated by strong oscillations in a tight horizontal - channel. The ongoing negative mood in EUR/USD may drive the pair toward the next important support around 1.11436, particularly after failing to hold above 1.13326. This slump may be pushed further by Friday's publication of US - job statistics, which will boost the dollar versus most major - currencies, including the euro. The EUR/USD outlook remains tough. It's worth noting that the pair has been under significant downward pressure, owing to a rising dollar and inflation fears in the Eurozone.