News

EUR/USD Technical Analysis: Euro turns negative on the day, trades near 1.1070 level

  • EUR/USD climbed as high as 1.1097 but bears stepped in and drove the market near 1.1070 level.
  • The level to beat for bears is the 1.1043 support.
 

EUR/USD daily chart

 
EUR/USD, on the daily chart, is trading in a downtrend below downward sloping 100 and 200-day simple moving averages (DMAs). The market is rejecting the 1.1100 handle this Thursday in the New York session.
 

 

EUR/USD four-hour chart

 
The market is trading back below the 100 and 200 SMAs while the market is trading below the 1.1083 resistance level. A daily close below the 1.1083 level would signal a failed bullish breakout which can result in a decline in the coming sessions.
 
A daily close below 1.1043 level can see the bears taking the helm and drive the market towards the 1.1014 and 1.0991 levels, according to the Technical Confluences Indicator.
 

EUR/USD 30-minute chart

 
 
EUR/USD is trading below the 200 SMA, suggesting a bearish bias in the near term. The main resistance on the way up is the 1.1083 level, 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.