EUR/USD price analysis: Will the euro bears finally commit?

EUR/USD neutral/bullish bias remains in place despite the dip caused by the NFP.
The level to beat for buyers is the 1.1063 resistance.

Flavio Tosti Independent Analyst

EUR/USD weekly chart

The euro is trading in a weak bear trend below its main weekly simple moving averages (WMAs). The market has been holding above the 1.1000 handle for eight consecutive weeks, reinforcing the bull case.

EUR/USD daily chart

EUR/USD, on the daily time frame, is trading below the 200-day simple moving average (DMA). However, in December, the market had a significant bullish reversal. The bears will likely need to have a daily close below the 1.1000 handle in order to restore a clear bearish bias.

EUR/USD four-hour chart.

EUR/USD is rebounding from the 50/100 SMAs. If bulls overcome the 1.1063 resistance, the buyers will likely try to reach the 1.1103 resistance one more time. Further up lie the 1.1137, 1.1155 and 1.1178 price levels. Support is seen at the 1.1028/17 price zone and 1.0982 level, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.106
Today Daily Change	-0.0043
Today Daily Change %	-0.39
Today daily open	1.1103

Trends
Daily SMA20	1.1043
Daily SMA50	1.105
Daily SMA100	1.1069
Daily SMA200	1.116

Levels
Previous Daily High	1.111
Previous Daily Low	1.1074
Previous Weekly High	1.1034
Previous Weekly Low	1.0981
Previous Monthly High	1.1176
Previous Monthly Low	1.0981
Daily Fibonacci 38.2%	1.1096
Daily Fibonacci 61.8%	1.1088
Daily Pivot Point S1	1.1082
Daily Pivot Point S2	1.1061
Daily Pivot Point S3	1.1047
Daily Pivot Point R1	1.1117
Daily Pivot Point R2	1.1131
Daily Pivot Point R3	1.1152

Author

Flavio Tosti

Independent Analyst

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