- EUR/USD broke below a significant support at 1.1200 figure.
- Bears will be looking at the 1.1147 and 1.1101 to the downside according to the Technical Confluences Indicator.
- Mario Draghi the President of the European Central Bank said that he leaves the door open to further stimulus including rate cuts.
- Earlier the ZEW survey and the inflation data in Europe disappointed adding to the poor mood on the EUR.
EUR/USD daily chart
EUR/USD is in a bear trend below its main simple moving average (DSMA). The market is breaking below the 1.1200 figure.
The market broke below the main SMAs suggesting a bearish bias in the near term. The market is currently testing 1.1180 support, which is the Pivot Point one-day S2 and the lower Bollinger Band on the 4-hour chart according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is under pressure below its main SMAs. A break below 1.1180 can lead to 1.1147 the monthly Fibonacci of 23.6% after that comes the 1.1112 support (previous month low and Pivot Point 1 week S2 closely followed by 1.1101, the monthly Pivot Point S1 and the lower Bolling Band on the daily chart.
|Today last price||1.1187|
|Today Daily Change||-0.0031|
|Today Daily Change %||-0.28|
|Today daily open||1.1218|
|Previous Daily High||1.1247|
|Previous Daily Low||1.1204|
|Previous Weekly High||1.1344|
|Previous Weekly Low||1.1202|
|Previous Monthly High||1.1266|
|Previous Monthly Low||1.1107|
|Daily Fibonacci 38.2%||1.1231|
|Daily Fibonacci 61.8%||1.122|
|Daily Pivot Point S1||1.1198|
|Daily Pivot Point S2||1.1179|
|Daily Pivot Point S3||1.1154|
|Daily Pivot Point R1||1.1242|
|Daily Pivot Point R2||1.1267|
|Daily Pivot Point R3||1.1286|
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