EUR/USD technical analysis: Sharp move down to new 2019 low as bears are scraping the barrel

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs) while the market is printing a new 2019 low at 1.1106.

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs suggesting a bearish bias in the near term.

EUR/USD 30-minute chart

EUR/USD finally made a significant move down after four days of tight ranges. The bears brought the currency pair to a new 2019 low. If the sellers can manage to overcome the 1.1110 support then they could target 1.1070 to the downside. As the volatility has been extremely low in the last days, the market might enter a consolidation before attempting another drop. Resistances are seen at 1.1140 and 1.1180 level.

Additional key levels

EUR/USD

Overview
Today last price	1.1116
Today Daily Change	-0.0036
Today Daily Change %	-0.32
Today daily open	1.1152

Trends
Daily SMA20	1.1187
Daily SMA50	1.1237
Daily SMA100	1.1303
Daily SMA200	1.1392

Levels
Previous Daily High	1.1182
Previous Daily Low	1.1148
Previous Weekly High	1.1264
Previous Weekly Low	1.1154
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1161
Daily Fibonacci 61.8%	1.117
Daily Pivot Point S1	1.114
Daily Pivot Point S2	1.1127
Daily Pivot Point S3	1.1106
Daily Pivot Point R1	1.1174
Daily Pivot Point R2	1.1195
Daily Pivot Point R3	1.1208

Author

Flavio Tosti

Independent Analyst

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