EUR/USD Price Analysis: On track to hit the lowest since Dec. 1

Omkar Godbole FXStreet Contributor

EUR/USD's technical chart shows bears are in control and could soon push the pair to three-month lows below the Feb. 5 low of 1.1952.

The pair formed a bearish marubozu candle on Thursday – a sign of a strong bearish mood in the market – validating a bear flag disruption confirmed earlier this week.

A bearish marubozu or a big red candle with little or no wicks appears when sellers pretty much dominate the proceedings. The pair dived out of a bear flag on March 3, signaling an extension a resumption of the sell-off from the Jan. 6 high of 1.2349 and opening the doors for a drop below 1.20.

A close above the lower high of 1.2243 created on Feb. 25 is needed to confirm a reversal higher.

Daily chart

Trend: Bearish

Technical levels

EUR/USD

Overview
Today last price	1.1964
Today Daily Change	-0.0007
Today Daily Change %	-0.06
Today daily open	1.1971

Trends
Daily SMA20	1.2097
Daily SMA50	1.2137
Daily SMA100	1.2037
Daily SMA200	1.1817

Levels
Previous Daily High	1.2068
Previous Daily Low	1.1962
Previous Weekly High	1.2243
Previous Weekly Low	1.2065
Previous Monthly High	1.2243
Previous Monthly Low	1.1952
Daily Fibonacci 38.2%	1.2002
Daily Fibonacci 61.8%	1.2027
Daily Pivot Point S1	1.1932
Daily Pivot Point S2	1.1894
Daily Pivot Point S3	1.1827
Daily Pivot Point R1	1.2038
Daily Pivot Point R2	1.2106
Daily Pivot Point R3	1.2144

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold remains below $5,200 despite tariff jitters and geopolitical risks

Gold is seen consolidating in a range below the $5,200 mark during the Asian session on Friday amid mixed cues. Trade jitters, along with the risk of a potential US-Iran war, act as a tailwind for the safe-haven bullion. Meanwhile, the Fed's hawkish outlook keeps the US Dollar close to the monthly high and caps the non-yielding yellow metal. Nevertheless, the commodity remains on track to register gains for the fourth straight week, though the fundamental backdrop warrants some caution for bullish traders.