EUR/USD Price Analysis: Euro ends first trading day of 2020 below 1.1200 handle

01/02/2020 22:04:39 GMT|ByFlavio Tosti

EUR/USD is starting the year by a retracement below the 1.1200 handle.
The market is rolling into Asia above the 1.1166/1.1150 price zone.

EUR/USD weekly chart

EUR/USD is kicking off 2020 by trading near five-month highs and the 50-period weekly simple moving average. The spot could be trying to form a base above the 1.1000 handle. However, since the volatility has been so low in the last quarter, the market remains mainly in a range, with both parties taking the lead alternatively.

EUR/USD daily chart

The market is retracing down while trading above the main SMAs. The market is rejecting the 1.1200 handle and a trendline.

EUR/USD four-hour chart

The euro is weakening while trading above the main SMAs on the four-hour chart. Bulls want to keep the market above the 1.1166/1.1150 price zone to avoid an extension of the retracement towards the 1.1096 and 1.1072 price levels. Resistances are seen at the 1.1224/1.1248 price zone, 1.1271, 1.1306 and 1.1341 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1172
Today Daily Change	-0.0048
Today Daily Change %	-0.43
Today daily open	1.122

Trends
Daily SMA20	1.1126
Daily SMA50	1.1089
Daily SMA100	1.1063
Daily SMA200	1.1143

Levels
Previous Daily High	1.1262
Previous Daily Low	1.1158
Previous Weekly High	1.1189
Previous Weekly Low	1.1069
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1222
Daily Fibonacci 61.8%	1.1197
Daily Pivot Point S1	1.1165
Daily Pivot Point S2	1.1109
Daily Pivot Point S3	1.1061
Daily Pivot Point R1	1.1269
Daily Pivot Point R2	1.1317
Daily Pivot Point R3	1.1373

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