OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD New York Price Forecast: Euro consolidates losses below 2019 low

  • EUR/USD is consolidating sideways near 34-month lows as the new week is kicking off.
  • The level to beat for bears is the 1.0826 support.

EUR/USD daily chart 

EUR/USD is trading in a weak downtrend below the main daily simple moving averages (SMAs) as the spot remains under pressure near 34-month lows. The quote is trading just below the 2019 lows. 

EUR/USD four-hour chart

EUR/USD broke below the downward channel while trading below its main SMAs on the four-hour chart. The spot is consolidating sideways while remaining under bearish pressure near 34-month lows. Sellers want a breakdown below the 1.0826 support level to drag the price down to the 1.0800 figure and 1.0756 price levels. Resistances are seen near the 1.0882, 1.0930 and 1.0984 levels, according to the Technical Confluences Indicator. 
Resistance: 1.0882, 1.0930, 1.0984
Support: 1.0826, 1.0800, 1.0756

Additional key levels


Gold rebounds modestly, trades above $1,580

The troy ounce of the precious metal rose nearly $15 last week as investors continued to react to headlines surrounding the coronavirus outbreak. With
Read more Previous

Singapore: MAS to ease in April due to lower growth projections – Standard Chartered

The Monetary Authority of Singapore (MAS) will ease in April in the opinion of economists at Standard Chartered Bank who have also lowered their 2020
Read more Next
Start livechat