EUR/USD found some bids on Monday after the week ended with a bearish pullback. Upbear German retail sales data can provide support to the Euro. Fed’s dovishness and Biden’s stimulus can trigger reflation fears. The EUR/USD outlook is mild bullish in the short term. The EUR/USD pair reversed some of the losses incurred on Friday. As a result, the pair has found some bids around 1.1870 ahead of the European session on Monday. –Are you interested to learn more about automated forex trading? Check our detailed guide- The last week came up with the heaviest gains for the Euro as mixed US data and Fed’s silence on tapering favored the bulls. In addition, the German retail sales figures have exceeded expectations of 2% with a monthly number at 4.2%. This can further lend support to the Euro. However, traders are still cautious as US ISM manufacturing PMI and then US President’s infrastructure spending bill in the Senate. Market participants expect no sooner rate hike by Fed as the second-quarter GDP of the US and core PCE price index numbers missed the expectations. However, we cannot ignore the activity numbers as they are still healthy. Moreover, the US health official has already ruled out any chance of another lockdown. This keeps the traders interesting in the employment data due on Friday. Get FREE Forex Signals Now! On the other hand, policymakers are positive about passing Biden’s stimulus bill as it is now on the floor of the Senate. But unfortunately, this can permeate more liquidity and trigger reflation fears. The ECB has reckoned the need to dump monetary policy adjustment as the Delta variant keeps pressure on the European economy. However, Germany reinforces tightening the monetary policy. As we can observe from the market reaction during the Asian session, the market sentiment is slightly positive. However, the US yields are still pressured around 1.23, keeping the Greenback outlook a little deteriorated. –Are you interested to learn more about forex trading apps? Check our detailed guide- EUR/USD technical outlook: Are bulls active now? The EUR/USD fell back to the broken sideways channel which is now acting as a support level. The level coincides with the 20-period SMA as well. For now, the 200-period SMA is an interim resistance followed by the Friday tops at 1.1907. On the flip side, 1.1860 (broken sideways channel) is strong support, followed by the 50-period SMA at 1.1835. The volume data shows the Monday’s minor up wave lacks follow-through momentum. EUR/USD 4-hour chart outlook Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next Ripple Price Forecast: Time To Buy XRP Before The Big Rise Gerald Fenech 6 months EUR/USD found some bids on Monday after the week ended with a bearish pullback. Upbear German retail sales data can provide support to the Euro. Fed's dovishness and Biden's stimulus can trigger reflation fears. The EUR/USD outlook is mild bullish in the short term. The EUR/USD pair reversed some of the losses incurred on Friday. As a result, the pair has found some bids around 1.1870 ahead of the European session on Monday. -Are you interested to learn more about automated forex trading? Check our detailed guide- The last week came up with the heaviest gains for the Euro as… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.