News
7x24
Quotes
Economic Calendar
Video
Data
- Names
- Latest
- Prev.
Bearish Correction Could Accelerate Following Rejection at Key Resistance
Forex
Economic
Summary:
Price has logged a solid close below the 100-period moving average located at 1.1543 following a downside rejection off the 1.1557 resistance zone.
Sell
TradingEURUSD
EXP
1.15352
Entry Price
1.14670
TP
1.15800
SL
1.15348 -0.00069 -0.06%
0
Point
Flat
1.14670
TP
CLOSING
1.15352
Entry Price
1.15800
SL
Talks between Washington and Tehran continue to encounter significant obstacles in reaching an agreement to fully reopen the Strait of Hormuz, a strategic shipping lane for global energy trade. Mutual demands for compensation over conflict-related damages have dampened expectations for a swift resolution, leaving maritime transit through the strait severely restricted.
Prospects for de-escalation deteriorated further after Iran dismissed the possibility of resuming negotiations with U.S. President Donald Trump. According to several reports citing Iranian media, Tehran appears willing to wait out the remainder of the current U.S. presidential term ending in January 2029 before considering renewed dialogue with Washington.
In the United States, financial markets also reacted to hawkish remarks from Cleveland Federal Reserve President Beth Hammack. The official noted that current monetary policy is not harming the economy, adding that more than one additional rate hike will likely be required to sustainably return inflation toward the central bank's target.
These comments arrive at a time when investors remain divided regarding the Federal Reserve's upcoming policy decision. Focus now shifts to the publication of July's Consumer Price Index (CPI), which could provide fresh cues on the future trajectory of interest rates.
Market consensus expects headline inflation to cool to 3.4% year-over-year in July from 3.5% in June, while core inflation is projected at 2.5% year-over-year compared to 2.6% prior. A higher-than-expected reading could reinforce expectations for a tighter monetary stance and support the U.S. dollar, whereas softer figures might unleash fresh downward pressure on the currency.
Recent labor market metrics from the U.S. continue to signal a gradual slowdown. Initial jobless claims dropped to 199,000, slightly outperforming expectations, while Challenger job cuts fell to 33,400 from 45,800 reported previously. Taken together, these indicators suggest that employment moderation stems primarily from reduced hiring rather than a noticeable rise in layoffs.
Across the Eurozone, service sector activity readings pointed to mixed outcomes in July. In Spain, the HCOB Services PMI delivered an upside surprise by reaching 58.3 points, comfortably beating both the preliminary estimate and the previous print to reflect solid business expansion. In Germany, the Services PMI saw a modest upward revision to 49.8 points, though it remained below the 50 threshold separating growth from contraction. Meanwhile, the German Composite PMI ticked up to 51.3 points, while the Eurozone composite index moved up to 52.0, pointing to a progressive recovery in private activity led mainly by peripheral economies.
On the inflation front, price pressures demonstrated ongoing persistence. Headline Eurozone inflation picked up to 2.9% year-over-year in July from 2.8% prior, while core inflation made an unexpected bounce to 2.5%. These prints back expectations that the European Central Bank (ECB) will keep a tight policy stance in place over coming months.
Technical Analysis
EURUSD appears to have launched a corrective move after touching a local high of 1.1581. At present, price has logged a solid close below the 100-period moving average located at 1.1543 following a downside rejection off the 1.1557 resistance zone. Should price close below the 200-period moving average sitting at 1.1531, the downward push could accelerate toward 1.1467—an area housing local support aligned with the 0.50 Fibonacci retracement level, lending extra weight to this downside target.
Looking at the oscillators, the RSI touched the 79 mark at its local peak before reacting lower; it currently sits at 41, slightly inside bearish territory with room to keep building downward momentum. Meanwhile, the MACD shows a bullish histogram with virtually no depth and a high potential for an impending bearish crossover, while the signal lines hover around the neutral mark, indicating that the path of least resistance remains to the downside.
Trading Recommendations
Trading direction: Sell
Entry price: 1.1534
Target price: 1.1467
Stop loss: 1.1580
Validity: Aug 21, 2026 15:00:00
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2026 FastBull Ltd
Home News Columns 7x24 Economic Calendar Quotes Video Data WarehouseAnalysis AI Signal Pro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.