EUR/USD New York Price Forecast: Euro off 34-month lows post-US Retail Sales


  • EUR/USD bear trend remains, for now, intact as sellers remain in control near 34-month lows.
  • EUR/USD is ticking up after slightly disappointing Retail Sales data from the US.  
 

EUR/USD daily chart 

 
EUR/USD is trading in a weak bear trend below the main daily simple moving averages (SMAs) as the quote is bouncing off 34-month lows. The US Retail Sales Control Group in January came in slightly below expectation at 0% vs. 0.3% forecast sending USD down little and made EUR/USD tick up. 
 

EUR/USD four-hour chart

 
EUR/USD broke below the downward channel while trading well below its main SMAs on the four-hour chart. The market remains under selling pressure near 34-month lows as bears want to break below the 1.0826 support level. Further down lie the 1.0800 figure and 1.0756 price level. Resistances are seen near the 1.0882, 1.0930 and 1.0984 levels, according to the Technical Confluences Indicator
 
  
Resistance: 1.0882, 1.0930, 1.0984
Support: 1.0826, 1.0800, 1.0756
 
 

Additional key levels 

EUR/USD

Overview
Today last price 1.0855
Today Daily Change 0.0014
Today Daily Change % 0.13
Today daily open 1.0841
 
Trends
Daily SMA20 1.101
Daily SMA50 1.1084
Daily SMA100 1.1067
Daily SMA200 1.1117
 
Levels
Previous Daily High 1.0889
Previous Daily Low 1.0834
Previous Weekly High 1.1089
Previous Weekly Low 1.0942
Previous Monthly High 1.1225
Previous Monthly Low 1.0992
Daily Fibonacci 38.2% 1.0855
Daily Fibonacci 61.8% 1.0868
Daily Pivot Point S1 1.0821
Daily Pivot Point S2 1.08
Daily Pivot Point S3 1.0766
Daily Pivot Point R1 1.0875
Daily Pivot Point R2 1.091
Daily Pivot Point R3 1.093

 

 

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