Forex Report on EUR/USD | Robust Technical Analysis | Updated for 12.18.2023

EUR/USD (Euro & US Dollar)

Here is our most recent Forex technical analysis of the EUR/USD currency pair, which offers new insights into its current performance.

Trading Performance Measures

      • Percentage Changes:
            • Day-Over-Day Change: A slight increase of 0.23% from the previous day.

            • Week-Over-Week Change: The pair shows a 1.48% increase over the past week.

            • Month-Over-Month Change: A modest increase of 0.42% occurred over the past month.

        • Correlation and Strength:
              • Weekly Correlation vs. FGC Dollar Indicator: Maintains a strong negative correlation at -0.9668.

              • Trading Condition: Remains ‘Neutral’, suggesting a balanced market environment.

          • Key Support/Resistance Levels:
                • Lower Extreme: 1.0831

                • Lower Level: 1.0875

                • Mid-Level: 1.0920

                • Upper Level: 1.0964

                • Upper Extreme: 1.1009

            • Predictive Trading Range Probabilities:
                  • Upper Range (21.01% Chance): More Than or Equal to 1.0956

                  • Mid-Range (42.26% Chance): Less Than or Equal to 1.0911

                  • Lower Range (9.53% Chance): Less Than or Equal to 1.0862


                • Recent Uptick: The day-over-day increase suggests an increased Euro bias against the US Dollar but needs viewing in the context of broader time frames.

                • Moderate Medium-Term Growth: The week-over-week growth is more significant than the month-over-month, suggesting a recent acceleration in the strength of the Euro against the US Dollar.

                • Persistent Negative Correlation: The strong negative correlation with the FGC Dollar Indicator (our proprietary US Dollar Indicator), continues.

                • Market Condition: The ‘Neutral’ trading condition indicates a lack of extreme market sentiment, either bullish or bearish, which seems logical ahead of the Core PCE Price Index, the preferred inflation measure of the Feds, later this week.

                • Trading Strategy Considerations:
                      • The latest support and resistance levels supply updated benchmarks. The proximity of the mid-level (1.0920) to the current price may function as a pivot point for short-term movements.

                      • The predictive trading range indicates a higher probability (42.26%) of the pair staying below 1.0911, suggesting resistance around this level.

                      • The relatively lower chances of crossing the upper range (21.01%) might influence traders to watch for resistance near 1.0956.

                Risk Disclosure: Trading financial instruments such as but not limited to off-exchange foreign currencies, cryptocurrency (cryptocurrencies), Futures, ETFs, Equities and Indexes contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

                Trade at your Own Risk:  Read Full Risk Disclosure @

                Tags: #Forex, #TechnicalAnalysis, #CurrencyTrading, #ForexTrading

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