EUR/USD technical analysis: Euro off last week’s low, trading near 1.1040 level

EUR/USD is starting the week quietly retracing up slightly after last week’s decline.
The level to beat for bears is the 1.1028 support level.
Bank holidays in the US and Canada is keeping volatility low.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The Euro, on the daily chart, is trading in a downtrend below the main daily simple moving averages (DMAs). Last week, after recording its worst weekly decline since August, the Fiber is starting the week retracing some of its recent gains.

EUR/USD four-hour chart

The Euro is under pressure below its main SMAs on the four-hour chart. The market remains weak and a break below 1.1028 support level would open the way to further weakness towards the 1.1000 figure and to the 1.0965 price level, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is trading above the 50 and 100 SMAs, suggesting a correction up in the near term. The 1.1051 level, as well as the 1.1063/74 resistance zone, can act as resistances, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1037
Today Daily Change	0.0015
Today Daily Change %	0.14
Today daily open	1.1022

Trends
Daily SMA20	1.1102
Daily SMA50	1.104
Daily SMA100	1.1115
Daily SMA200	1.1188

Levels
Previous Daily High	1.1056
Previous Daily Low	1.1016
Previous Weekly High	1.1176
Previous Weekly Low	1.1016
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1032
Daily Fibonacci 61.8%	1.1041
Daily Pivot Point S1	1.1007
Daily Pivot Point S2	1.0992
Daily Pivot Point S3	1.0967
Daily Pivot Point R1	1.1047
Daily Pivot Point R2	1.1072
Daily Pivot Point R3	1.1087

Author

Flavio Tosti

Independent Analyst

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