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EUR/USD Price Analysis: Abrupt change of direction could breach 0.9900

  • EUR/USD comes under heavy pressure and drops near 0.9940.
  • The loss of 0.9900 could accelerates losses to the YD low at 0.9863.

EUR/USD reverses two consecutive daily gains and drops well south of the parity level on Friday.

The sudden slump in the pair now leaves the door open to extra weakness in the short-term horizon. Against that, a convincing breakdown of the 0.9900 level carries the potential to revisit the 20-year low at 0.9863 (September 6).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0728.

EUR/USD daily chart

EUR/USD

Overview
Today last price0.9964
Today Daily Change68
Today Daily Change %-0.36
Today daily open1
 
Trends
Daily SMA200.9989
Daily SMA501.0101
Daily SMA1001.0323
Daily SMA2001.0737
 
Levels
Previous Daily High1.0018
Previous Daily Low0.9956
Previous Weekly High1.0114
Previous Weekly Low0.9864
Previous Monthly High1.0369
Previous Monthly Low0.9901
Daily Fibonacci 38.2%0.9994
Daily Fibonacci 61.8%0.998
Daily Pivot Point S10.9965
Daily Pivot Point S20.9929
Daily Pivot Point S30.9903
Daily Pivot Point R11.0027
Daily Pivot Point R21.0053
Daily Pivot Point R31.0089

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

More from Pablo Piovano
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