EUR/USD technical analysis: Euro prints a new 2019 low as the Federal Reserve cuts interest rates

EUR/USD drops sharply to fresh 2019 lows following the cut from the Federal Reserve.
The level to beat for bears are seen at the 1.1064, 1.1030 and 1.007 levels.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is in a bear trend below its main daily simple moving averages (DSMAs). The Federal Reserve cut 25 bps as market participants widely expected it. The market fell sharply on the news.

EUR/USD 4-hour chart

EUR/USD is trading below its major SMAs, suggesting a bearish bias in the medium term. The market reached 1.1060, its lowest point in 2019. Sellers want to break below this level to travel south towards 1.1030 and 1.1007, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is steeply down below its SMAs, suggesting bearish momentum in the short term. Immediate resistances are located at 1.1080, 1.1100 and 1.1117 according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1064
Today Daily Change	-0.0094
Today Daily Change %	-0.84
Today daily open	1.1158

Trends
Daily SMA20	1.1213
Daily SMA50	1.1241
Daily SMA100	1.1241
Daily SMA200	1.1306

Levels
Previous Daily High	1.1162
Previous Daily Low	1.1132
Previous Weekly High	1.1226
Previous Weekly Low	1.1101
Previous Monthly High	1.1414
Previous Monthly Low	1.116
Daily Fibonacci 38.2%	1.115
Daily Fibonacci 61.8%	1.1143
Daily Pivot Point S1	1.1139
Daily Pivot Point S2	1.1121
Daily Pivot Point S3	1.111
Daily Pivot Point R1	1.1169
Daily Pivot Point R2	1.118
Daily Pivot Point R3	1.1198

Author

Flavio Tosti

Independent Analyst

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