EUR/USD technical analysis: Euro ends the week below 1.1107 key resistance


  • EUR/USD consolidated from daily highs but the bulls still threaten to break above the 1.1107 key resistance.
  • Earlier, the Retail Sales Control Group matched expectations at 0.3%, helping EUR/USD easing from daily highs.
 

EUR/USD daily chart

 
On the daily time-frame, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). On Thursday, the European Central Bank’s (ECB) slashed rates by 0.1% and announced an open-ended Quantitive Easing (QE). However, after a bearish reaction, the market thought that the ECB was not dovish enough and the EUR rose sharply. This Friday, the Retail Sales Control Group in the United States (US) matched expectations at 0.3% in August.
 

EUR/USD four-hour chart

 
The Fiber is consolidating in a critical resistance zone with of a multi-week descending trendline, the 200 SMA, and the 1.1107 resistance level. Buyers will have to overcome this cluster of resistance if they want to lift the market towards 1.1142 and 1.1176 resistances, according to the Technical Confluences Indicator.
  
  

EUR/USD 30-minute chart

 
The market is challenging the 1.1079 resistance and the 50 SMA. It will be interesting to see if the bears resume the bear trend and bring the market down towards 1.1050, 1.1033 and 1.0992 or if the bulls will break above 1.1107 key resistance.
 

Additional key levels

EUR/USD

Overview
Today last price 1.1079
Today Daily Change 0.0023
Today Daily Change % 0.21
Today daily open 1.1056
 
Trends
Daily SMA20 1.1055
Daily SMA50 1.1134
Daily SMA100 1.1185
Daily SMA200 1.1263
Levels
Previous Daily High 1.1087
Previous Daily Low 1.0927
Previous Weekly High 1.1085
Previous Weekly Low 1.0926
Previous Monthly High 1.1251
Previous Monthly Low 1.0962
Daily Fibonacci 38.2% 1.1026
Daily Fibonacci 61.8% 1.0988
Daily Pivot Point S1 1.096
Daily Pivot Point S2 1.0863
Daily Pivot Point S3 1.0799
Daily Pivot Point R1 1.112
Daily Pivot Point R2 1.1184
Daily Pivot Point R3 1.128

 

 

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