Over the past 24 to 48 hours, the EUR/USD pair continued a mild downward trend, slipping slightly from yesterday’s closing price of 1.1512 and dipping near the 1.1500 level during intraday trading. The market spotlight was on stronger-than-expected U.S. employment data, which bolstered the U.S. dollar and exerted downward pressure on the euro. In addition, rising geopolitical tensions in the Middle East, notably President Trump’s threat to target Iranian infrastructure, heightened global risk aversion and boosted demand for the U.S. dollar as a safe-haven currency, pushing EUR/USD lower.

Investors can think of the current scenario as a strategic game: robust US job data acts as added ‘chips’ strengthening the dollar, while Middle East tensions serve as an uncertainty risk trigger, encouraging market participants to seek safety in the dollar. If the Middle East conflict persists without resolution, the dollar is poised to solidify its dominance, challenging the EUR/USD pair’s upside. Taken together, these factors propelled the recent mild pullback in EUR/USD, mirroring investor sensitivity to geopolitical risks and economic indicators over the last two days.

Daily Chart

The daily chart illustrates a sustained downtrend in EURUSD from this year’s peak at 1.2080. Recently, prices have hovered near the 1.15 mark, well below the 50 and 200-day moving averages around 1.166, confirming bearish momentum. Bollinger Bands show contraction with a downward bias indicating decreased volatility amid ongoing selling pressure. The MACD continues to widen its negative gap, reaffirming sellers’ dominance without reversal signals yet.

1H Chart

On the hourly timeframe covering the last 3 days, EURUSD has been consolidating in a 1.150-1.153 range before breaking slightly lower. The death cross formed by short and long moving averages and intensifying negative MACD histogram bars suggest rising short-term downside pressure. The price is repeatedly testing the Bollinger middle band, which if broken decisively, could trigger another leg down. No significant bullish candlestick reversal patterns have appeared recently, indicating bearish near-term bias.

Technical Trend:  EURUSD is presently in a cautiously bearish trend with uncertainty but a bias for continued downward adjustment.

Technical indicators show EURUSD currently locked in strong bearish momentum. MACD and moving average crossovers reinforce the downward trend. Daily Bollinger Bands trend lower with stable volume, indicating sellers still in control. The latest candlesticks lack clear bullish reversal signals, suggesting prices may continue to test lower supports in the next 24 hours. Traders should watch key support levels as potential entry or stop-loss zones.

There are no significant or direct economic events scheduled today (GMT+1) expected to impact EURUSD. Market focus remains on the previously released strong US jobs data and ongoing geopolitical tensions in the Middle East.

Resistance & Support

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