EUR/USD Technical Analysis: Set-up turns in favor of bearish traders, sustained break below 1.1300 mark awaited
|• The pair snapped four consecutive days of winning streak and started retreating from the top end of an ascending trend-channel formation on the 1-hourly chart.
• Bears momentarily dragged the pair below an important confluence region near the 1.1300 handle - comprising of the trend-channel support and 50-hour EMA.
• Oscillators on the daily chart maintained their bearish bias and have been losing momentum on the 1-hourly chart, adding credence to the near-term bearish set-up.
• Hence, the emergence of technical selling has the potential to accelerate the intraday bearish trajectory towards 1.1280 intermediate support en-route the 1.1250-40 region.
EUR/USD
Overview:
Today Last Price: 1.1301
Today Daily change: -27 pips
Today Daily change %: -0.24%
Today Daily Open: 1.1328
Trends:
Daily SMA20: 1.1318
Daily SMA50: 1.1369
Daily SMA100: 1.137
Daily SMA200: 1.1492
Levels:
Previous Daily High: 1.134
Previous Daily Low: 1.1278
Previous Weekly High: 1.1388
Previous Weekly Low: 1.1176
Previous Monthly High: 1.1489
Previous Monthly Low: 1.1234
Daily Fibonacci 38.2%: 1.1316
Daily Fibonacci 61.8%: 1.1301
Daily Pivot Point S1: 1.129
Daily Pivot Point S2: 1.1253
Daily Pivot Point S3: 1.1228
Daily Pivot Point R1: 1.1352
Daily Pivot Point R2: 1.1377
Daily Pivot Point R3: 1.1414
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.