News

EUR/USD technical analysis: Euro hovers below 1.1120 in quiet Monday trading

  • EUR/USD is calm on the first day of the week
  • The level to beat for bears are the 1.1096 and 1.1044 levels. 
 
 

EUR/USD daily chart

 
On the daily time-frame, the single currency is trading in a bear trend below the main daily simple moving averages (DSMAs). The market is starting the week in a small range following last week decline. 

 

EUR/USD 4-hour chart

 
The Euro is trading below 1.1120 resistance and its main SMAs, suggesting a bearish bias in the medium term. Bears need a break below 1.1096 to reach the 1.1044, 1.1027 and the 1.0970 level on the way down.
 

EUR/USD 30-minute chart

 
The market is trading below its a downward sloping 200 SMAs, suggesting a bearish bias in the near term. Immediate resistances are seen at the 1.1120 and 1.1136 levels, according to the Technical Confluences Indicator
 
  

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.