EUR/USD Price Analysis: Extra losses exposes a visit to 1.1066/39

EUR/USD is prolonging the move lower on Tuesday.
The 100-day SMA/support line at 1.1066 emerges as the next target.

Pablo Piovano FXStreet

EUR/USD has managed to regain some buying interest after bottoming out in the 1.1080/75 band at the beginning of the week.

The selling pressure has accelerated following the breach of the key 55-day SMA in the 1.1090 region. If the downside pressure gathers pace, then the 100-day SMA at 1.1066 should return to the radar. This area of contention is also reinforced by the 3-month support line.

The bearish view remains unchanged while below the 55-day SMA.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.109
Today Daily Change	14
Today Daily Change %	-0.07
Today daily open	1.1098

Trends
Daily SMA20	1.1143
Daily SMA50	1.11
Daily SMA100	1.1071
Daily SMA200	1.1136

Levels
Previous Daily High	1.1102
Previous Daily Low	1.1077
Previous Weekly High	1.1173
Previous Weekly Low	1.1086
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1092
Daily Fibonacci 61.8%	1.1087
Daily Pivot Point S1	1.1083
Daily Pivot Point S2	1.1067
Daily Pivot Point S3	1.1058
Daily Pivot Point R1	1.1108
Daily Pivot Point R2	1.1117
Daily Pivot Point R3	1.1133

Author

Pablo Piovano

FXStreet

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

GBP/USD hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.