EUR/USD technical analysis: Fiber at daily lows ahead of ECB's Lagarde speech, trading near 1.1140 level


  • The Fiber is trading near daily lows as the London session comes to an end. 
  • The newly appointed ECB's President, Christine Lagarde, is going to deliver a speech at 20:30 GMT.
  • The level to beat for bears is the 1.1141 support level.

 

EUR/USD daily chart

 
On the daily chart, the Euro is trading in a downtrend below its 200-day simple moving average (DMA). This Monday, the market is trading off the October highs ahead of ECB's Christine Lagarde's speech at 20:30 GMT. Traders will be on the lookout for any comments about future monetary policy. The event can lead to volatility in the markets.
 

EUR/USD four-hour chart

 
The Euro, on the four-hour chart, might be trading in an ascending triangle pattern while above its main SMAs. However, if the spot breaks to the upside, EUR/USD could reach the 1.1183/1.1200 zone, 1.1217 and 1.1262 resistances on the way up, according to the Technical Confluences Indicator. The market is also easing from a double top with the October highs.
 
 

EUR/USD 30-minute chart

 
EUR/USD is challenging the 1.1141 support level and the 200 SMA, suggesting a potential bearish bias in the near term. A breakdown below 1.1141 is needed to trigger further weakness towards the 1.1129 level and 1.1111 support level.
 

Additional key levels

EUR/USD

Overview
Today last price 1.1142
Today Daily Change -0.0024
Today Daily Change % -0.21
Today daily open 1.1166
 
Trends
Daily SMA20 1.1083
Daily SMA50 1.104
Daily SMA100 1.1125
Daily SMA200 1.1198
 
Levels
Previous Daily High 1.1174
Previous Daily Low 1.1128
Previous Weekly High 1.1063
Previous Weekly Low 1.0941
Previous Monthly High 1.118
Previous Monthly Low 1.0879
Daily Fibonacci 38.2% 1.1156
Daily Fibonacci 61.8% 1.1146
Daily Pivot Point S1 1.1138
Daily Pivot Point S2 1.1111
Daily Pivot Point S3 1.1093
Daily Pivot Point R1 1.1183
Daily Pivot Point R2 1.1201
Daily Pivot Point R3 1.1228

 

 

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