EUR/USD technical analysis: Euro under heavy pressure below 1.1200 figure


  • 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. 


EUR/USD 4-hour chart

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. 


Additional key levels

EUR/USD

Overview
Today last price 1.1187
Today Daily Change -0.0031
Today Daily Change % -0.28
Today daily open 1.1218
 
Trends
Daily SMA20 1.1222
Daily SMA50 1.1219
Daily SMA100 1.1269
Daily SMA200 1.1359
Levels
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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