EURUSD | Technical Outlook
EURUSD Daily Forecast: Market Structure
The EURUSD Daily Forecast indicates that the euro remains under bearish pressure, with prices trading around 1.1146 after a prolonged decline against the US dollar. The pair is attempting a modest recovery from the 1.1120–1.1130 support region, but the broader market direction remains bearish as sellers continue to defend higher price levels.
The daily timeframe confirms a sustained downtrend, with EURUSD trading below its major moving averages following the decline from the 1.1650–1.1700 region. The latest recovery attempts have failed to establish a meaningful reversal, suggesting that selling pressure continues to dominate.
Meanwhile, the H4 timeframe shows a sequence of lower highs and lower lows, although prices have recently stabilized near 1.1120–1.1140. The H1 timeframe reflects a corrective rebound from recent lows, while the M15 timeframe reveals improving short-term buying momentum.
However, the recovery remains vulnerable unless buyers successfully reclaim the 1.1150–1.1170 resistance region.
Key Resistance Zone
The immediate resistance area stands at 1.1150–1.1170, representing an important barrier for the current recovery.
- 1.1150–1.1170: Immediate resistance, where selling pressure and moving averages could limit further gains.
- 1.1190–1.1210: Secondary resistance, representing a previous consolidation area.
- 1.1230–1.1250: Stronger resistance, where a sustained breakout would indicate improving bullish momentum.
A confirmed move above 1.1170 could encourage buyers to target 1.1200, followed by 1.1230–1.1250.
Key Support Zone
The primary support area is located around 1.1120–1.1130, where buyers have recently attempted to stabilize prices.
- 1.1120–1.1130: Immediate support and a critical level for maintaining the short-term recovery.
- 1.1100–1.1110: Secondary support, representing the next potential downside target.
- 1.1070–1.1080: Deeper support, which could become relevant if bearish momentum accelerates.
A sustained breakdown below 1.1120 would reinforce the prevailing bearish direction and increase the probability of further losses.
EURUSD Daily Forecast: Expectations
Bearish Scenario (Primary)
As long as EURUSD remains below 1.1150–1.1170, the broader bearish outlook remains intact.
Failure to overcome this resistance could trigger renewed selling pressure toward 1.1130, followed by 1.1100–1.1110.
A decisive breakdown below 1.1100 could expose the 1.1070–1.1080 support region.
Bullish Scenario (Alternative)
If buyers successfully push prices above 1.1170, EURUSD could extend its corrective recovery toward 1.1190–1.1210.
A sustained breakout above 1.1210 would strengthen the short-term bullish outlook and potentially open the way toward 1.1230–1.1250.
However, a more meaningful bullish reversal would require stronger confirmation above these resistance levels.
Outlook
The EURUSD Daily Forecast maintains a bearish bias despite the latest recovery attempt.
The 1.1150–1.1170 resistance zone remains the immediate decision point. A rejection from this area could renew downward pressure toward 1.1120 and 1.1100.
Conversely, a confirmed breakout above 1.1170 could support a corrective recovery toward 1.1200–1.1250.
For now, the broader bearish direction remains dominant, while short-term price action suggests that buyers are attempting to establish a temporary recovery.
