EUR/USD Technical Analysis: Euro corrects early November decline, ends the week above 1.1050 level

  • EUR/USD ends the week near its highs as the market is correcting the recent November decline.
  • The correction can continue to the 1.1055/78 resistance zone.

EUR/USD weekly chart

EUR/USD had a small corrective bounce above the 1.1000 handle this week. The market is trading below its main weekly simple moving averages in a weak bear trend. 

EUR/USD daily chart

The Euro, on the daily chart, is trading in a bear trend below downward sloping 100 and 200-day simple moving averages (DMAs). This Friday the market corrected to the upside and broke above the 50 DMA today at 1.1041. The spot also reached the 1.1060 level which is the 38.2 Fibonacci retracement from the current November decline.

EUR/USD four-hour chart

The Fiber is correcting up as it moved beyond the 50 SMA. There is a weak resistance at 1.1055, which might be overcome, according to the Technical Confluences Indicator. Afterwards, comes the 1.1078 strong resistance near the 200 SMA. If that also fails to contain prices, then the market might continue its correction towards the 1.1112 level. Further up lie the 1.1181 resistance. 

Additional key levels


Today last price 1.1055
Today Daily Change 0.0034
Today Daily Change % 0.31
Today daily open 1.1021
Daily SMA20 1.1092
Daily SMA50 1.1041
Daily SMA100 1.1101
Daily SMA200 1.1181
Previous Daily High 1.1029
Previous Daily Low 1.0989
Previous Weekly High 1.1176
Previous Weekly Low 1.1016
Previous Monthly High 1.118
Previous Monthly Low 1.0879
Daily Fibonacci 38.2% 1.1013
Daily Fibonacci 61.8% 1.1004
Daily Pivot Point S1 1.0997
Daily Pivot Point S2 1.0974
Daily Pivot Point S3 1.0958
Daily Pivot Point R1 1.1037
Daily Pivot Point R2 1.1052
Daily Pivot Point R3 1.1076



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD stabilizing as US coronavirus cases continue to climb

EUR/USD is trading around 1.1250, pressured amid concerns about the spread of coronavirus in the US. Traders are digesting the upbeat Non-Farm Payrolls figures already out ahead of the long US weekend. 


GBP/USD attempting a bounce amid thin liquidity

GBP/USD is closer to 1.25, off the lows. Top-level EU-UK Brexit talks have been postponed until next week amid disagreements. The UK is continuing to reopen while US coronavirus cases are surging. 


Bitcoin must endorse the time of Ethereum has come

The crypto market remains in a choke point, and after signs of a possible upward shift yesterday, the market was once again disappointed to see Bitcoin in the low range of the $8900 to $9000 choke point.

Read more

Gold: There is a bearish signal on the 4-hour chart

Price action has been slow on Friday due to the bank holiday in the US as the nation celebrates independence day. This week has been an interesting one as there has been some good economic data but some very bad coronavirus news in the US. 

Gold News

S&P 500: Futures struggle to refresh two-week top

S&P 500 Futures prints mild loss of 0.10% while declining to 3,126 during the initial hour of Tokyo session on Friday. In doing so, the risk barometer fails to extend the previous four-day winning streak.

Read more