EUR/USD retraces below the 1.1900 area on Monday. The dollar index gains some ground on the day. ECB Vice says that tapering the stimulus program will be a big mistake The EUR/USD outlook is bullish despite a recent retracement of gains below the 1.1900 area. Greenback is slightly gaining after NFP dip. During the Asian session, the EUR/USD pair showed small losses in its first trade of the new week. For the first time since August, the pair climbed above 1.1900 on Friday. However, it opened lower on Monday. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- Today, the EUR/USD pair has fallen 0.10 percent to 1.1863 at the time of writing. Dollar indexes (DXY), which measure the dollar’s strength against six major currencies, bounced around 92.00, pushing the EUR/USD price. According to the US Bureau of Labor Statistics, 235,000 new US jobs were created in August. Growth was well below market expectations at 750k. Unemployment decreased to 5.2% in August from 5.4%. As dollar sell-off soared following Friday’s disappointing NFP data, the single currency rallied. Get FREE Forex Signals Now! In anticipation of the European Central Bank (ECB) talking about tapering the purchase of bonds, investors are betting on the euro. However, a possible withdrawal of the stimulus package is now possible, as ECB vice president Luis de Guindos encourages a positive economic outlook in the bloc. Likewise, Economic Commissioner of the European Union (EU) Paolo Gentiloni warned that monetary tightening by the ECB is “a big mistake.” Investors look at German manufacturing orders, the Purchasing Managers’ Index for Construction (PMI), and the PMI for Construction in the EU for insight into trade. EUR/USD price technical outlook: 20-SMA to support EUR/USD 4-hour chart outlook The EUR/USD pair is declining on the day. The pair may find some respite around 20-period SMA on the 4-hour chart. The volume is, however, not encouraging for the bears. This could only be a retracement that may find some bulls around key support of 1.1860 ahead of 1.1825 (50-period SMA) and then at 1.1805 (200-period SMA). –Are you interested to learn more about forex signals? Check our detailed guide- On the upside, the pair may see a rise towards the double top at 1.1910 area ahead of 1.1950 and then 1.2000 (psychological mark). 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 Gold Price Forecast: Triangle Breakout to Drive Bulls above $1,822 Ali B. 1 year EUR/USD retraces below the 1.1900 area on Monday. The dollar index gains some ground on the day. ECB Vice says that tapering the stimulus program will be a big mistake The EUR/USD outlook is bullish despite a recent retracement of gains below the 1.1900 area. Greenback is slightly gaining after NFP dip. During the Asian session, the EUR/USD pair showed small losses in its first trade of the new week. For the first time since August, the pair climbed above 1.1900 on Friday. However, it opened lower on Monday. –Are you interested to learn more about low spread forex brokers?… Regulated 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.