EUR/USD New York Price Forecast: Euro consolidates losses near 34-month lows, trades near 1.0800 level


  • EUR/USD remains under heavy selling pressure near 34-month lows.
  • The level to beat for bears is the 1.0793 support.
  • Key resistance is seen near 1.0883 level.
 
 

EUR/USD daily chart 

 
EUR/USD is trading in a downtrend below its main daily simple moving averages (SMAs) as the spot is under bearish pressure near 34-month lows. On Wednesday EUR/USD ended the day on the high tick however the buyers have more work to do in order to create a convincing recovery.
 

EUR/USD four-hour chart

 
Euro/Dollar broke below a bear channel while trading far away from its main SMAs on the four-hour chart. On the fourth day of the week, the spot remains under pressure near multi-year low as EUR/USD remains vulnerable below the 1.0793 level. Sellers can target the 1.0748 and 1.0725 levels on the way down. On the flip side, bulls want to recapture the 1.0838 level to trade towards a more solid resistance near 1.0883 level, according to the Technical Confluences Indicator
 
 
Resistance: 1.0838, 1.0883, 1.0917
Support: 1.0793, 1.0748, 1.0725
 

Additional key levels

EUR/USD

Overview
Today last price 1.0799
Today Daily Change -0.0011
Today Daily Change % -0.10
Today daily open 1.081
 
Trends
Daily SMA20 1.0955
Daily SMA50 1.1062
Daily SMA100 1.1063
Daily SMA200 1.1109
 
Levels
Previous Daily High 1.081
Previous Daily Low 1.0782
Previous Weekly High 1.0958
Previous Weekly Low 1.0827
Previous Monthly High 1.1225
Previous Monthly Low 1.0992
Daily Fibonacci 38.2% 1.0799
Daily Fibonacci 61.8% 1.0793
Daily Pivot Point S1 1.0792
Daily Pivot Point S2 1.0773
Daily Pivot Point S3 1.0764
Daily Pivot Point R1 1.0819
Daily Pivot Point R2 1.0829
Daily Pivot Point R3 1.0847

 

 

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