EUR/USD New York Price Forecast: Triangle consolidation could be on the cards

Last Friday's spike is easing below the 1.1100 figure.
The level to beat for bears is the 1.1060 support.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a weak bear trend below the main simple moving averages (SMAs) as the market broke below an ascending trendline and is now testing it as the market is bouncing. The spot remains weak below the 200 SMA/1.1200 zone and is more likely to enter a triangle consolidation in the next sessions.

EUR/USD four-hour chart

EUR/USD is trading in a descending channel below the 100/200 SMAs. The spot challenged the 1.1100 resistance and is now easing. A break below the 1.1060 support can see 1.1033 and 1.1000 figure revisited. On the flip, side a break above the 1.1100/1.1140 resistance zone would question the bear’s commitment, according to the Technical Confluences Indicator.

Support: 1.1060, 1.1033, 1.1000

Resistance: 1.1080, 1.1100, 1.1140

Additional key levels

EUR/USD

Overview
Today last price	1.1062
Today Daily Change	-0.0029
Today Daily Change %	-0.26
Today daily open	1.1091

Trends
Daily SMA20	1.1093
Daily SMA50	1.11
Daily SMA100	1.1072
Daily SMA200	1.1128

Levels
Previous Daily High	1.1092
Previous Daily Low	1.1017
Previous Weekly High	1.1092
Previous Weekly Low	1.0992
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.1063
Daily Fibonacci 61.8%	1.1046
Daily Pivot Point S1	1.1041
Daily Pivot Point S2	1.0992
Daily Pivot Point S3	1.0966
Daily Pivot Point R1	1.1116
Daily Pivot Point R2	1.1142
Daily Pivot Point R3	1.1191

Author

Flavio Tosti

Independent Analyst

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