fxs_header_sponsor_anchor

News

EUR/USD technical analysis: Euro collapses to 2-year lows, sub-1.1000 level

  • EUR/USD falls to 2-year lows as the Greenback strengthens across the board. 
  • The level to beat for bears is the 1.1016 support followed by the 1.1039 level.
 
 

EUR/USD daily chart

 
On the daily time-frame, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). EUR/USD just broke to its lowest since 2017. 

EUR/USD 4-hour chart

 
The bearish pressure is unabated as the market reached 2-year lows. The market is challenging the 1.1016 support while the next level is 1.1039. If broken, the market could precipitate towards 1.0870, according to the Technical Confluences Indicator.
  
  

EUR/USD 30-minute chart

 
EUR/USD is trading below the main SMAs, suggesting a bearish momentum in the near term. Immediate resistances are seen at 1.1016, 1.1039 and 1.1056 levels, according to the Technical Confluences Indicator. 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.