Jan 28, 2020
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