{"id":9671,"date":"2021-06-07T07:50:00","date_gmt":"2021-06-07T06:50:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=9671"},"modified":"2021-06-07T17:20:36","modified_gmt":"2021-06-07T16:20:36","slug":"eurusd-technical-analysis-1-2160-gateway-level","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-1-2160-gateway-level\/","title":{"rendered":"EURUSD Technical Analysis &#8211; 1.2160 gateway level"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9671\" class=\"elementor elementor-9671\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-303157d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"303157d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-53e85c0\" data-id=\"53e85c0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9e73b5f elementor-widget elementor-widget-text-editor\" data-id=\"9e73b5f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> rallied back towards the 1.2185 level on Friday, after the United States monthly jobs number came in under market expectations. Prior to the release the pair had been lingering around the 1.2100 support area and appeared vulnerable to further losses.<\/p><p><a href=\"https:\/\/bit.ly\/2Qa0Ii1\" target=\"_blank\" rel=\"noopener\">Bond<\/a> markets in the United States clearly expressed how most investors were feeling towards a possible bond tapering as the 10-year note fell towards the 1.55 percent level. This suggest that inflationary fears are also being pushed to one side, as well as the notion of the FED changing policy this month.<\/p><p>This week the stage is set for the EURUSD pair to continue to recover if bulls are able to keep the price above the 1.2160 area. This key technical price zone remained a trading pivot point for EURUSD traders last week.<\/p><p>Much also depends on the coming CPI inflation print in the United States this week. If US CPI does not rise as much as feared, then the stage is probably set for more upside in the EURUSD pair.<\/p><p>Given that the Federal Reserve will be in no rush to hike rates as the job situation in the United States is not entirely clear, a moderate US CPI number would almost certainly set the tone for more US dollar weakness.<\/p><p>Last week\u2019s CFTC report from the futures market showed that EURUSD longs were the largest position in the market and increased by a further 5,000. This would imply that traders in the futures market are expecting more EURUSD upside.<\/p><p>This is opposed to market sentiment amongst the retail crowd on the spot market. The ActivTrader market sentiment tool shows that 62 percent of traders are bearish towards the EURUSD right. This suggests to me that Friday\u2019s recovery could very well continue this week.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9907a7c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9907a7c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bee5d87\" data-id=\"bee5d87\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ba5ed73 elementor-widget elementor-widget-image\" data-id=\"ba5ed73\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"298\" height=\"109\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/EURUSD-CHART.png\" class=\"attachment-large size-large wp-image-9675\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-40ff227 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"40ff227\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b1a6ab6\" data-id=\"b1a6ab6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2b6adbb elementor-widget elementor-widget-text-editor\" data-id=\"2b6adbb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>EURUSD Short-Term Technical Analysis<\/strong><\/p><p>The EURUSD pair has fallen outside a large broadening wedge pattern across the four-hour time frame. Last week\u2019s breakout under the wedge caused a strong sell-off towards the 1.2100 level.<\/p><p>It is possible that this pattern has now played out to the downside now. If EURUSD bulls can move the price above the 1.2220 to 1.2250 price zone this week then a major counter rally towards the 1.2330 to 1.2450 area should be anticipated.<\/p><p>To the downside, sustained weakness under the 1.2160 level and the EURUSD pair could test back towards the 1.2130 to 1.2100 support zones quite easily.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7fe5282 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7fe5282\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8053703\" data-id=\"8053703\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-24ede7b elementor-widget elementor-widget-image\" data-id=\"24ede7b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"341\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/EURUSD-4H.png\" class=\"attachment-large size-large wp-image-9676\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-59dcd467 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"59dcd467\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7219f444\" data-id=\"7219f444\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2e416fe9 elementor-widget elementor-widget-text-editor\" data-id=\"2e416fe9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b6ffff3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b6ffff3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-548950b\" data-id=\"548950b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-03916bc elementor-widget elementor-widget-text-editor\" data-id=\"03916bc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>EURUSD Medium-Term Technical Analysis<\/strong><\/p><p>The daily time frame shows that a head and shoulders pattern will be invalidated if the EURUSD pair revisits the 1.2330 price area, and a large, inverted pattern will then form instead.<\/p><p>According to the size of the potentially invalidated head and shoulders pattern, a rally towards the 1.2800 area could be on the horizon over the medium-term.<\/p><p>Failure to overcome the 1.2250 to 1.2280 level this week and it is possible that the EURUSD pair will test back to the 1.2000 support level. My preferred scenario would see the 1.2330 level being broken before the EURUSD tests 1.2000 again.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2747cbe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2747cbe\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-305f5d4\" data-id=\"305f5d4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2cdda67 elementor-widget elementor-widget-image\" data-id=\"2cdda67\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"343\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/EURUSD-1D.png\" class=\"attachment-large size-large wp-image-9678\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2ee95d84 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2ee95d84\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ab68d9b\" data-id=\"1ab68d9b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6744ec45 elementor-widget elementor-widget-text-editor\" data-id=\"6744ec45\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The EURUSD rallied back towards the 1.2185 level on Friday, after the United States monthly jobs number came in under market expectations. Prior to the release the pair had been lingering around the 1.2100 support area and appeared vulnerable to further losses. Bond markets in the United States clearly expressed how most investors were feeling [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":9672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[18,42,193],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EURUSD Technical Analysis - 1.2160 gateway level - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-1-2160-gateway-level\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EURUSD Technical Analysis - 1.2160 gateway level\" \/>\n<meta property=\"og:description\" content=\"The EURUSD rallied back towards the 1.2185 level on Friday, after the United States monthly jobs number came in under market expectations. Prior to the release the pair had been lingering around the 1.2100 support area and appeared vulnerable to further losses. 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