OctaFX | OctaFX Forex Broker
Buka akaun dagangan
Back

EUR/USD technical analysis: Euro rolling into the Asian session near weekly lows, sub-1.1144 level

  • EUR/USD broke below the critical 1.1160 support this Wednesday.
  • The level to beat for sellers is the 1.1136 support. 
 

EUR/USD daily chart

 
On the daily time-frame, the common currency is trading in a bear trend below its main daily simple moving averages (DSMAs). 
 

EUR/USD 4-hour chart

 
After six days of trading range, EUR/USD eventually broke below the 1.1160 support and the 100 SMA. The Euro reached the 1.1136 support, which is now the level to beat for bears. Looking down, the next supports are seen at the 1.1107, 1.1084 and 1.1061 levels.
 

EUR/USD 30-minute chart

 
Some profit-taking is making the market stall above the 1.1136 support. The bearish pressure remains and immediate resistances are seen at the 1.1144 and 1.1160 levels, according to the Technical Confluences Indicator. 
 
  

Additional key levels

 

Wall Street flips over into a sea of red on Global recession fears

The Dow Jones Industrial Average closed at session lows on Wednesday with the recession fears penetrating their way through to US stocks despite Trump
Baca lagi Previous

NZD/USD: Bears keep dominating amid risk-off

With the fears of the global recession taking the rounds, the NZD/USD pair holds on to sellers’ list while trading near 0.6440 at the start of Thursday.
Baca lagi Next
Start livechat