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EUR/USD technical analysis: Euro down as New York session kicks in, bounces from the 1.1000 handle

  • EUR/USD is under pressure in the New York session trading at its lowest since last Friday. 
  • The level to beat for bears is the 1.1000 handle. 
 

EUR/USD daily chart

 
 
On the daily chart, the common currency is trading in a bear trend below its main simple moving averages (DSMAs). However, last week, the Fiber broke above a multi-week trendline. Earlier in the Europen session, the German Zew survey came better-than-expected at -22.8 vs -27 for October.
 

EUR/USD four-hour chart

 
 
The Euro is trading above the main SMAs, suggesting bullish momentum in the medium term. EUR/USD is consolidating last week’s gains above the 1.1000 figure and the 200 SMA. The 1.1025 resistance is the level to beat for bulls if they intend to reach the 1.1067 resistance on the way up, according to the Technical Confluences Indicator.
 

EUR/USD 30-minute chart

 
 
The Fiber is under pressure below its main SMAs. However, a daily close below the 1.1000 handle would be a stronger confirmation that the short term bias might have switched to bearish.

Additional key levels 

EUR/USD

Overview
Today last price1.1005
Today Daily Change-0.0021
Today Daily Change %-0.19
Today daily open1.1026
 
Trends
Daily SMA201.0986
Daily SMA501.1046
Daily SMA1001.1141
Daily SMA2001.1219
 
Levels
Previous Daily High1.1043
Previous Daily Low1.1013
Previous Weekly High1.1063
Previous Weekly Low1.0941
Previous Monthly High1.111
Previous Monthly Low1.0885
Daily Fibonacci 38.2%1.1024
Daily Fibonacci 61.8%1.1031
Daily Pivot Point S11.1011
Daily Pivot Point S21.0997
Daily Pivot Point S31.0981
Daily Pivot Point R11.1042
Daily Pivot Point R21.1057
Daily Pivot Point R31.1072

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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