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EUR/USD Price Analysis: Rising bets for a drop to 1.1500

  • EUR/USD stays depressed and near the YTD low.
  • Further south should emerge the 1.1500 region.

EUR/USD trades at shouting distance from the 2021 lows near 1.1520 at the end of the week.

The bearish note surrounding the pair almost calls for another visit to the 2021 low at 1.1524 (October 12) in the very near term. A breakdown of this level should expose a test of the 1.1500 zone, where the March 2020 high sits (1.1495) ahead of the June 2020 high at 1.1422.

In the meantime, further losses are likely while below the 5-month resistance line, today near 1.1680.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.1534
Today Daily Change33
Today Daily Change %-0.17
Today daily open1.1554
 
Trends
Daily SMA201.16
Daily SMA501.1683
Daily SMA1001.175
Daily SMA2001.1894
 
Levels
Previous Daily High1.1616
Previous Daily Low1.1528
Previous Weekly High1.1692
Previous Weekly Low1.1535
Previous Monthly High1.1692
Previous Monthly Low1.1524
Daily Fibonacci 38.2%1.1562
Daily Fibonacci 61.8%1.1583
Daily Pivot Point S11.1516
Daily Pivot Point S21.1478
Daily Pivot Point S31.1428
Daily Pivot Point R11.1604
Daily Pivot Point R21.1654
Daily Pivot Point R31.1692

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.

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