EUR/USD technical analysis: Fiber enters the Asian session near Tuesday’s lows

10/22/2019 21:25:19 GMT|ByFlavio Tosti

The Greenback picked up some steam this Tuesday, helping EUR/USD to decline near two-day lows.
The Brexit chaos is weighing on the market mood and the Euro.
The key macroeconomic event of the week is the European Central Bank (ECB) interest rate decision on Thursday.

EUR/USD daily chart

On the daily chart, the shared currency is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The Brexit optimism is fading somewhat and it is weighing on the Euro. Investors will start to focus on the key macroeconomic event of the week: the European Central Bank (ECB) interest rate decision on Thursday.

EUR/USD four-hour chart

EUR/USD, on the four-hour chart, is retracing down from the October highs, trading now below the 1.1140 level. As the market is weakening, the retracement can extend towards the 1.1110 and 1.1065 price levels on the way down, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The Fiber is trading below its main SMAs on the 30-minute chart, suggesting a bearish bias in the near term. Resistance can be seen near 1.1140 and 1.1160 price levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1126
Today Daily Change	-0.0024
Today Daily Change %	-0.22
Today daily open	1.115

Trends
Daily SMA20	1.1006
Daily SMA50	1.1037
Daily SMA100	1.1138
Daily SMA200	1.1209

Levels
Previous Daily High	1.118
Previous Daily Low	1.1138
Previous Weekly High	1.1063
Previous Weekly Low	1.0941
Previous Monthly High	1.111
Previous Monthly Low	1.0885
Daily Fibonacci 38.2%	1.1154
Daily Fibonacci 61.8%	1.1164
Daily Pivot Point S1	1.1132
Daily Pivot Point S2	1.1115
Daily Pivot Point S3	1.1091
Daily Pivot Point R1	1.1173
Daily Pivot Point R2	1.1197
Daily Pivot Point R3	1.1215

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.

{{Text}}

News