EUR/USD technical analysis: Euro is challenging the 2019 lows

EUR/USD is under pressure printing fresh 2019 lows this Thursday.
The market is now hovering near the daily lows in a mixed session.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The shared currency, on the daily chart, is trading in a bear trend below the main daily simple moving averages (DSMAs). Earlier in the New York session, the US Gross Domestic Product came in at 2% as it was expected by analysts.

EUR/USD four-hour chart

The market is attempting to pierce below the 1.0918 support near the 2019 low currently at 1.0921. A break below 1.0918 could open the door to 1.0890 price level, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The Euro/Dollar exchange rate is trading below its main SMAs, suggesting a bearish bias in the near term. If the market retakes the 1.0940 resistance, it can lead to a restest of the 1.1000 figure, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.0947
Today Daily Change	-0.0004
Today Daily Change %	-0.04
Today daily open	1.0951

Trends
Daily SMA20	1.1023
Daily SMA50	1.1095
Daily SMA100	1.117
Daily SMA200	1.1248

Levels
Previous Daily High	1.1017
Previous Daily Low	1.0938
Previous Weekly High	1.1084
Previous Weekly Low	1.099
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.0968
Daily Fibonacci 61.8%	1.0987
Daily Pivot Point S1	1.092
Daily Pivot Point S2	1.0889
Daily Pivot Point S3	1.0841
Daily Pivot Point R1	1.1
Daily Pivot Point R2	1.1048
Daily Pivot Point R3	1.1079

Author

Flavio Tosti

Independent Analyst

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.