OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD Price Analysis: Euro under pressure below 1.1100 level and 50 DMA

  • EUR/USD is kicking off the new trading week near January lows.
  • The market is breaching the 1.1100/1.1090 support zone.
 

EUR/USD daily chart

 
EUR/USD is trading in a weak downtrend below the 200-day simple moving average (SMA). EUR/USD is kicking off the new week trading just below the 1.1100 level and the 50 SMA.
 

EUR/USD four-hour chart

 
The market is trading below the main SMAs, suggesting an underlying bearish momentum. As the market is breaching the January lows in the 1.1100/1.1090 support zone, EUR/USD could continue to decline towards the 1.1067, 1.1033 and 1.1000 levels; according to the Technical Confluences Indicator. In the event the market regains the 1.1125/50 area on a daily closing basis it could invalidate the bearish scenario. 
 
 

Additional key levels 

 

AUD/USD could drop and probe the 0.6850 region – UOB

The Aussie dollar could debilitate further and re-visit the mid-0.6800s vs. the greenback in the next weeks, suggested FX Strategists at UOB Group. Ke
Read more Previous

Copper Futures: Recovery could pick up pace

Open interest in Copper futures markets went down by almost 2.5K contracts on Friday according to CME Group’s preliminary prints. In the same line, vo
Read more Next
Start livechat