EUR/USD Technical Analysis: Euro ends the week on the lows, nearing the 1.1000 handle

EUR/USD ends the week on its low tick.
The level to beat for bears is the 1.1014 support.

Flavio Tosti Independent Analyst

EUR/USD weekly chart

On the weekly chart, the market is trading in a bear trend below the main weekly simple moving averages (SMAs). This week EUR/USD rejected the 1.1100 handle.

EUR/USD daily chart

EUR/USD, on the daily chart, is trading in a downtrend below downward sloping 100 and 200-day simple moving averages (DMAs). This Friday, the market hit fresh weekly lows helped by the upbeat US data. The US Markit Manufacturing PMI in November (preliminary) improved to 52.2 vs. 51.5 expected.

EUR/USD four-hour chart

The market is challenging the 1.1014 support level while below the main SMAs on the four-hour time frame. Bears are likely back in control. The decline could extend towards 1.1000, followed by 1.0968 and 1.0945 price levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1023
Today Daily Change	-0.0034
Today Daily Change %	-0.31
Today daily open	1.1057

Trends
Daily SMA20	1.1075
Daily SMA50	1.1044
Daily SMA100	1.1089
Daily SMA200	1.1175

Levels
Previous Daily High	1.1098
Previous Daily Low	1.1052
Previous Weekly High	1.1058
Previous Weekly Low	1.0989
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1069
Daily Fibonacci 61.8%	1.108
Daily Pivot Point S1	1.104
Daily Pivot Point S2	1.1023
Daily Pivot Point S3	1.0995
Daily Pivot Point R1	1.1086
Daily Pivot Point R2	1.1114
Daily Pivot Point R3	1.1131

Author

Flavio Tosti

Independent Analyst

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