EUR/USD has been trending lower since hitting a peak at 1.0995 last week while Monday's four-hour chart is pointing to further losses, FXStreet’s analyst Yohay Elam reports.
”EUR/USD fell below uptrend support and the 50 and 200 Simple Moving Averages on the four-hour chart. Downside momentum is picking up. All in all, bears are in the lead.”
“Support awaits at 1.0810, which was last week's low, and 1.0770, April's trough follows it.”
“Robust resistance is at 1.0895, a high point on Friday, and also a support line last week. Further up, 1.0930 was a swing high in early April.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.