EUR/USD Price Analysis: Euro bounces from 34-month lows, trades above 1.0800 figure


  • EUR/USD is reversing up from 34-month lows.
  • A deeper correction up is likely underway above the 1.0800 figure.
 

EUR/USD daily chart 

 
EUR/USD is trading in a downtrend below its main daily simple moving averages (SMAs) as the market is bouncing from 34-month lows. 
 

EUR/USD four-hour chart

 
Euro/Dollar broke below a bear channel and is now bouncing from the 1.0800 level. The market is consolidating near the 50 SMA as bulls are looking for a reversal up. However, the spot would need to break beyond the 1.0878 resistance to generate a deeper pullback up towards the 1.0923 and 1.0985 levels. Support is seen near and 1.0800 and 1.10754 price levels, according to the Technical Confluences Indicator.  
 
 
Resistance: 1.0878, 1.0923, 1.0985
Support: 1.0800, 1.0754 1.0660
 

Additional key levels

EUR/USD

Overview
Today last price 1.085
Today Daily Change 0.0000
Today Daily Change % 0.00
Today daily open 1.085
 
Trends
Daily SMA20 1.0933
Daily SMA50 1.105
Daily SMA100 1.1059
Daily SMA200 1.1106
 
Levels
Previous Daily High 1.0864
Previous Daily Low 1.0783
Previous Weekly High 1.0864
Previous Weekly Low 1.0778
Previous Monthly High 1.1225
Previous Monthly Low 1.0992
Daily Fibonacci 38.2% 1.0833
Daily Fibonacci 61.8% 1.0814
Daily Pivot Point S1 1.0801
Daily Pivot Point S2 1.0752
Daily Pivot Point S3 1.072
Daily Pivot Point R1 1.0881
Daily Pivot Point R2 1.0913
Daily Pivot Point R3 1.0962

 

 

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