EUR/USD Asia Price Forecast: Euro correction picks up steam, nearing 1.0900 figure


  • EUR/USD retracement up challenges the 1.0900 figure and the 50SMA on the four-hour chart.
  • It is unclear how far the pullback up can go as bearish pressure could come back any time. 
 

EUR/USD daily chart 

 
After a sharp selloff in early March, EUR/USD is consolidating off 37-month lows as the market is trading below its main SMAs on the daily chart suggesting an underlying bearish bias.
 

EUR/USD four-hour chart

 
 
Bulls are having another go at the 1.0900 resistance near the 50 SMA on the four-hour chart. If the level is broken to the upside EUR/USD could accelerate towards the 1.0972 resistance level. However, as the main trend remains bearish, sellers could come back anytime with an initial retest of the 1.0860, 1.0825 and 1.0780 levels on the way down, according to the Technical Confluences Indicator.
 

Resistance: 1.0900, 1.0972, 1.1000

Support: 1.0860, 1.0825, 1.0780

 

Additional key levels

EUR/USD

Overview
Today last price 1.0878
Today Daily Change 0.0090
Today Daily Change % 0.83
Today daily open 1.0788
 
Trends
Daily SMA20 1.1059
Daily SMA50 1.1007
Daily SMA100 1.105
Daily SMA200 1.1086
 
Levels
Previous Daily High 1.0888
Previous Daily Low 1.0722
Previous Weekly High 1.1237
Previous Weekly Low 1.0638
Previous Monthly High 1.1089
Previous Monthly Low 1.0778
Daily Fibonacci 38.2% 1.0825
Daily Fibonacci 61.8% 1.0785
Daily Pivot Point S1 1.0711
Daily Pivot Point S2 1.0633
Daily Pivot Point S3 1.0544
Daily Pivot Point R1 1.0877
Daily Pivot Point R2 1.0966
Daily Pivot Point R3 1.1043

 

 

Share: Feed news

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended content

Editors’ Picks

USD/JPY drops toward 142.00 ahead of BoJ policy decision

USD/JPY drops toward 142.00 ahead of BoJ policy decision

USD/JPY has turned south, approaching 142.00 in the Asian session on Friday. Markets turn risk-averse and flock to the safety in the Japanese Yen while the Fed-BoJ policy divergence and hot Japan's CPI data also support the Yen ahead of the BoJ policy verdict. 

USD/JPY News
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed. 

AUD/USD News
Gold price treads water below record peak, awaits Fedspeak

Gold price treads water below record peak, awaits Fedspeak

Gold price hovers below the all-time peak touched earlier this week amid a bearish US Dollar and rising bets for more upcoming rate cuts by the Fed. Concerns over an economic downturn in China keep the safe-haven Gold price afloat. Fedspeak remains on tap. 

Gold News
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD (RUSD) stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures