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EUR/USD Price Analysis: Euro under pressure, challenges 1.1000 figure

  • EUR/USD stays under selling pressure while challenging the 1.1000 figure.
  • As bears gain momentum they could reach 1.0958 price level.  
 

EUR/USD daily chart 

 
The euro is trading in a weak bear trend below its main simple moving averages (SMAs) as the market broke below an ascending trendline three days ago. The spot formed a head-and-shoulders formation which is driving the market towards its lowest point since November.
 

EUR/USD four-hour chart

 
EUR/USD is trading in a bear channel below its main SMAs as the market is grinding lower. The spot is challenging the 1.1000 figure; a beak of this psychological level could lead to further downside towards the 1.0958 levels, according to the Technical Confluences Indicator. 
  

Additional key levels 

 

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