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EUR/USD Technical Analysis: Euro hovering above the 1.1000 handle in the New York session

  • EUR/USD remains under pressure near the November lows.
  • The key level to beat for bears is the 1.0996 support.
  • Thanksgiving bank’s holiday in the US can keep the market choppy for the remainder of the day.
 
 

EUR/USD daily chart

 
The euro/dollar currency, on the daily time frame, is trading in a bear trend below the main daily simple moving averages (DMAs). This Thursday, the market is hovering just above the 1.1000 handle. 
 

EUR/USD four-hour chart

 
The market is drifting down in a very tight range below the 1.1020 and 1.1046 resistance level. The outlook remains negative for the common currency as a breakdown below the 1.0996 support level could potentially open the doors to further losses towards the 1.0968 and 1.0916 levels, according to the Technical Confluences Indicator. 
 

EUR/USD 30-minute chart

 
EUR/USD is trading virtually unchanged on the day while trading below a downward sloping 200 SMA. Resistance is expected at the 1.1020 level. Further up lie the 1.1048 and 1.1070 levels.
 

Additional key levels

EUR/USD

Overview
Today last price1.1007
Today Daily Change0.0006
Today Daily Change %0.05
Today daily open1.1001
 
Trends
Daily SMA201.1056
Daily SMA501.1042
Daily SMA1001.1081
Daily SMA2001.1169
 
Levels
Previous Daily High1.1027
Previous Daily Low1.0992
Previous Weekly High1.1098
Previous Weekly Low1.1014
Previous Monthly High1.118
Previous Monthly Low1.0879
Daily Fibonacci 38.2%1.1005
Daily Fibonacci 61.8%1.1014
Daily Pivot Point S11.0986
Daily Pivot Point S21.0971
Daily Pivot Point S31.095
Daily Pivot Point R11.1022
Daily Pivot Point R21.1043
Daily Pivot Point R31.1058

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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