EUR/USD New York Price Forecast: Euro under pressure below 1.1100 level and 50 DMA

EUR/USD is kicking off the new trading week near January lows.
The market is breaching the 1.1100/1.1090 support zone.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a weak downtrend below the 200-day simple moving average (SMA). EUR/USD is kicking off the new week trading just below the 1.1100 level and the 50 SMA.

EUR/USD four-hour chart

The market is trading below the main SMAs, suggesting an underlying bearish momentum. As the market is breaching the January lows in the 1.1100/1.1090 support zone, EUR/USD could continue to decline towards the 1.1067, 1.1033 and 1.1000 levels; according to the Technical Confluences Indicator. In the event the market regains the 1.1125/50 area on a daily closing basis it could invalidate the bearish scenario.

Additional key levels

EUR/USD

Overview
Today last price	1.1089
Today Daily Change	-0.0004
Today Daily Change %	-0.04
Today daily open	1.1093

Trends
Daily SMA20	1.1143
Daily SMA50	1.1098
Daily SMA100	1.1069
Daily SMA200	1.1137

Levels
Previous Daily High	1.1143
Previous Daily Low	1.1086
Previous Weekly High	1.1173
Previous Weekly Low	1.1086
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1108
Daily Fibonacci 61.8%	1.1121
Daily Pivot Point S1	1.1072
Daily Pivot Point S2	1.105
Daily Pivot Point S3	1.1015
Daily Pivot Point R1	1.1129
Daily Pivot Point R2	1.1164
Daily Pivot Point R3	1.1186

Author

Flavio Tosti

Independent Analyst

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