- EUR/USD almost reached the 1.1300 earlier in Europe as EUR/USD hits a new 2018 low yet again.
- EUR/USD bears objective is to breakout below 1.13000 in order to target 1.1250 May 24, 2017 high and 1.1178 June 27, 2017 low.
- On the flip side bulls will try to break above 1.1347, intraday swing high in order to target 1.1365 August 13 low and 1.1432 supply/demand level. Bears keep the advantage as long as they keep the market below the 1.1347-1.1365 area and the 200-period simple moving average on the 15-minute chart.
EUR/USD 15-minute chart
EUR/USD daily chart
Spot rate: 1.1329
Relative change: -0.14%
High: 1.1351
Low: 1.1308
Trend: Bearish
Resistance 1: 1.1347 intraday swing high (August 15)
Resistance 2: 1.1365 August 13 low
Resistance 3: 1.1432 supply/demand level
Resistance 4: 1.1483 intraday swing high (August 10)
Resistance 5: 1.1508 June 8 low
Resistance 6: 1.1527 June 28 low
Resistance 7: 1.1571-1.1581 area, August 6 high and August 2 low
Resistance 8: 1.1600-1.1620 area, figure and July 27 low
Resistance 9: 1.1640-1.1649 area, key level and July 12 low
Resistance 10: 1.1672 June 27 high
Support 1: 1.1300 figure
Support 2: 1.1250 May 24, 2017 high
Support 3: 1.1178 June 27, 2017 low
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD looks weaker below 1.0900, or two-month lows
Further gains in the US Dollar now puts EUR/USD under extra pressure, sending the pair to fresh multi-week lows near 1.0860 ahead of the key ECB gathering on Thursday.
GBP/USD remains offered near 1.3000
The British pound remains on the back foot on Wednesday, hovering around the key 1.3000 region as investors continue to gauge lower-than-expected UK inflation data against the likelihood of a more aggresive easing by the BoE.
Gold fresh record highs at sight
Gold price scales higher for the second straight day on Wednesday – also marking the fourth day of a positive move in the previous five – and climbs toward the all-time-high it set at $2,685 in late September.
Why is the ECB set to cut interest rates again and what does that mean
The ECB is widely expected to cut interest rates on Thursday for the third time this year. This is a significant achievement as it suggests that the ECB, which sets monetary policy in the Eurozone, is accelerating its path towards lower interest rates after an unprecedented increase.
British inflation dips to 1.7% in September
And speaking of inflation and Europe, inflation in Britain not only fell below 2% in September but came in significantly lower than expected (1.7%y-o-y vs 1.9% expected).
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.