EUR/USD: A double top bearish reversal? – OCBC

FXStreetJun 19, 2025 8:26 AM

View all comments（0）



Euro (EUR) extended its move lower over the past few sessions as geopolitical escalation unnerved sentiments. Pair was last at 1.1450 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Potential double top pattern has formed

"Bullish momentum shows signs of fading while RSI fell further. Potential double top pattern formed – typically associated with bearish reversal. Immediate support at 1.1420 (21 DMA), 1.1360 (50 DMA) and 1.1280 (23.6% fibo retracement of 2025 low to high)."

"We do not rule out a flush out of stagnant longs as markets re-assess risks. Resistance at 1.1570, 1.1630 (recent high). We remain constructive on the outlook but also respect the near-term retracement momentum."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Today’s Market Recap: AI Chip Stocks Pull Back, Micron Falls Over 6%, June Non-Farm Payroll Data Becomes Market Focus

TradingKey - On June 26, Eastern Time, the three major U.S. stock indexes closed mixed. Tech stocks remained under pressure and the semiconductor sector continued its pullback, dragging the Nasdaq down for a fifth consecutive trading day.

Japan and South Korea Stocks Open Lower; KOSPI Tumbles 3% to Lead Asian Tech Stocks, Samsung Electronics, SK Hynix and SoftBank Pull Back in Tandem

The KOSPI and Nikkei 225 indices continued to pull back, as Samsung Electronics, SK Hynix, SoftBank, and Kioxia fell across the board.

Ark Invest Buys SpaceX Dip Against the Trend, Why Cathie Wood Is Bullish on Musk’s ‘Orbital Computing Power Empire’

If you believe in "Space + AI Edge Computing," SpaceX stock could be considered for the long term. In the short term, SpaceX's stock price has corrected from its peak of $225 to around $154, deflating much of the speculative bubble from its early IPO phase and returning to a reasonable strategic allocation range.

Sandisk (SNDK) Weekend Outlook: Can the S&P 500's Best Stock Extend Its 857% Rally?

TradingKey - Sandisk (SNDK) enters the new week after an 857% rally in 2026. Here's what to watch, including Micron's record quarter, Core PCE, NAND demand, and key risks.

Gold Price Forecast: Does Gold Falling Below $4,000 Mean the Bull Market Is Over? Will It Still Rise in the Second Half of 2026?

TradingKey - Heading into the second half of 2026, the gold market has transitioned from a strong performer early in the year to an asset undergoing a high-level correction. Recently, gold prices fell below the $4,000 threshold for the first time since November 2025, down approximately 29% from the all-time high of $5,597.91 reached in January. On the surface, gold seems to have entered a period of distinct weakness. However, looking at the full-year horizon, can gold still rise in 2026? The answer is that while short-term pressure persists, there are still opportunities for a medium-term recovery, and the long-term bullish thesis remains intact.

Featured Tools