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EUR/USD Price Analysis: The loss of 1.1100 could spark a deeper drop

  • EUR/USD trades in weekly lows near 1.1100.
  • Next on the downside comes the 1.1000 key level.

EUR/USD remains well offered and navigates the lower end of the weekly range near the 1.1100 neighbourhood.

The recent upside bias now appears alleviated and further losses seem to be in store for the pair in the near term instead. That said, a sustained drop below the weekly low of 1.1111 could motivate the pair to dispute the psychological hurdle at 1.1000 the figure.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0687.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.1119
Today Daily Change33
Today Daily Change %-0.10
Today daily open1.113
 
Trends
Daily SMA201.1017
Daily SMA501.0888
Daily SMA1001.0878
Daily SMA2001.0682
 
Levels
Previous Daily High1.1229
Previous Daily Low1.1118
Previous Weekly High1.1245
Previous Weekly Low1.0944
Previous Monthly High1.1012
Previous Monthly Low1.0662
Daily Fibonacci 38.2%1.1161
Daily Fibonacci 61.8%1.1187
Daily Pivot Point S11.1089
Daily Pivot Point S21.1048
Daily Pivot Point S31.0978
Daily Pivot Point R11.12
Daily Pivot Point R21.127
Daily Pivot Point R31.131

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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