Euro Bulls Hit a Wall and Momentum Cracked Beneath Them

EUR/USD stalled beneath the year's heaviest resistance cluster after a four-week rally, slipping back under its 52-week moving average. Michael Boutros, Senior Market Analyst at StoneX, walks through the euro against the U.S. dollar across the weekly, daily, and four-hour charts, and explains where the pullback structure holds or fails. The rally that lifted EUR/USD more than 3.4% off the yearly low broke through the 52-week moving average before fading into the year's most crowded resistance zone, and price has now slipped back below it. The ascending channel off last month's low remains intact on the daily chart, while momentum has ducked back below the midline on shorter time frames, leaving the January low as the line separating a routine retracement from a failed breakout. Attention turns to the Jackson Hole Economic Symposium, eurozone inflation data at the start of next week, and the ADP employment report and nonfarm payrolls that follow. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_michael_boutros&utm_content=share 00:00 - Four-Week Euro Streak Breaks 00:44 - Weekly Chart Loses Its Line 01:08 - Daily Channel Under Pressure 02:02 - Four-Hour Structure Cracks 03:13 - Jackson Hole Shifts the Focus 03:42 - Payrolls Week Raises Stakes Like and subscribe for more financial market insights. #EURUSD #StoneX #MichaelBoutros #Forex