Today’s EUR/USD analysis (Monday, 2 November 2026) reviews the euro against the U.S. dollar (EUR/USD) on the 4-hour timeframe. The pair is currently trading near 1.1208 within a price range, with a technical scenario pointing to a possible dip toward an important support zone before a wider upward move.
📊 Levels Map
▲ Bullish scenario
Bullish: a bounce from the 1.0750 – 1.0836 zone restores upward momentum toward 1.14 then 1.2060.
▼ Invalidation scenario
Invalidation: a break and close below 1.0750 breaks the ascending trendline and shifts the picture to a deeper decline.
EUR/USD at a glance
- Current price: around 1.1208 (−0.06%).
- Major resistance (target): 1.2060.
- Key support zone: 1.0836 then 1.0750.
- Trend: sideways over the medium term, above a long-term ascending trendline.
Key technical levels
| Level | Value | Significance |
|---|---|---|
| Major resistance (target) | 1.2060 | Main upside target and range top |
| Supply zone | 1.1400 – 1.1550 | Mid resistance ahead of the upside |
| Current price | 1.1208 | Mid-range |
| First support | 1.0836 | Important demand zone |
| Major support | 1.0750 | Confluence with the ascending trendline |
The technical scenario
The pair is trading above a long-term ascending trendline, and the technical scenario points to a possible corrective dip first toward the support zone between 1.0836 and 1.0750 (where horizontal support meets the ascending trendline), followed by a bullish move targeting the major resistance at 1.2060.
Factors affecting EUR/USD
The pair is driven by the divergence between the U.S. Federal Reserve and the European Central Bank. After the Fed’s latest decision to hold rates with a cautious tone, the dollar held its strength in the short term. Inflation and growth data in both regions, along with central bank commentary, remain the key drivers of the pair’s direction.
Bottom line
Today’s EUR/USD analysis hinges on the 1.0750 – 1.0836 support zone; holding it favors the bullish scenario toward 1.2060, while breaking it changes the direction. Watching price’s reaction at support, along with Fed and ECB data, remains the priority.
Frequently asked questions
EUR/USD is trading today near 1.1208 on the 4-hour timeframe, within a range between 1.0836 support and major resistance at 1.2060.
The main technical target is resistance at 1.2060, provided the 1.0750 – 1.0836 support zone holds.
A break and close below 1.0750 breaks the ascending trendline and shifts the picture to a deeper decline.
This content is for educational and informational purposes only and is not investment advice. Trading currencies involves risk; make your decisions based on your own circumstances and consult a professional if needed.
