EUR/USD fades EMA20 at 1.13809 as downtrend reasserts

EUR/USD is capped beneath a bearish EMA stack and showing no credible sign of reversal, with momentum continuing to favour sellers across the dominant timeframes.

The pair trades near 1.13781 after a session range of 1.13543 to 1.13822, posting a marginal intraday gain that amounts to little more than noise against the broader weekly decline. No macro catalyst is driving today's session; the downside pressure is structural rather than event-led.

The trend-following read is clear. Price sits beneath EMA20 at 1.13809, EMA50 at 1.14356 and EMA200 at 1.15742 — a full bearish stack. The 4H and daily trends both point lower, and the prior context is unambiguous: a string of support levels have been abandoned over the past week, including 1.14386 and 1.13285. RSI drifts in neutral territory without signalling exhaustion, volatility is calm, and trend alignment remains mixed only because the 1H has yet to fully commit — which historically resolves in the direction of the higher timeframes. The 1.13875 resistance and the EMA20 overhead form a tight supply zone.

We lean short and look to sell into any near-term bid toward 1.13809–1.13875. A 4H close above EMA50 at 1.14356 invalidates the bearish structure and forces reassessment; below it, the next support at 1.13285 remains in scope.