EUR/USD technical analysis: Euro ends the week below the 1.1023 level


  • EUR/USD ends the week in the lower part of its range but struggle to generate any meaningful breakdown.
  • The level to beat for bears is the 1.1000 handle. 
 
 

EUR/USD daily chart

 
The common currency, on the daily chart, is trading in a bear trend below its main daily simple moving averages (DSMAs). The Euro ends the week stuck in a two-week trading range as investors are waiting for the next catalysts. There will be a plethora of news announcements next week, including the Gross Domestic Product in the United States. Therefore, there is potential for volatility and the current range may get broken.

EUR/USD four-hour chart

 
EUR/USD is trading below its primary SMAs, suggesting a bearish bias in the medium term. The Euro has been ranging for most of the week. However, bears will probably try to break the 1.1000 handle to potentially reach 1.0965 and 1.0930 support level near the 2019 low, according to the Technical Confluences Indicator
 
  
  

EUR/USD 30-minute chart

 
Bears will try to keep the market contained below 1.1023 resistance. However, if the bulls push through it, 1.1045 can come into play, but this is likely a weak resistance which will be easily be overcome opening the way to 1.1074 resistance, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price 1.1018
Today Daily Change -0.0027
Today Daily Change % -0.24
Today daily open 1.1045
 
Trends
Daily SMA20 1.1045
Daily SMA50 1.1115
Daily SMA100 1.1178
Daily SMA200 1.1255
 
Levels
Previous Daily High 1.1074
Previous Daily Low 1.1023
Previous Weekly High 1.111
Previous Weekly Low 1.0927
Previous Monthly High 1.1251
Previous Monthly Low 1.0962
Daily Fibonacci 38.2% 1.1054
Daily Fibonacci 61.8% 1.1042
Daily Pivot Point S1 1.1021
Daily Pivot Point S2 1.0997
Daily Pivot Point S3 1.097
Daily Pivot Point R1 1.1071
Daily Pivot Point R2 1.1098
Daily Pivot Point R3 1.1122

 

 

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