EUR/USD technical analysis: Euro is ending the week in the red against the Greenback, sub-1.1100 level

 |  16/08/2019 22:25
  • EUR/USD lost some considerable ground this week.
  • The level to beat for bears is the 1.1074 support. 
 
 

EUR/USD daily chart

 
On the daily time-frame, the common currency is trading in a bear trend below the main daily simple moving averages (DSMAs). The recent data in the US has kept the buck supported. Inflation and the Retail Sales Control Group were positive. Additionally, easing US-China trade tensions also support the Greenback. On the other hand, on Thursday ECB member Olli Rehn said the ECB stimulus package might overshoot expectations in September. The dovish comment was seen as bearish for the Euro. Thi Friday, US Consumer Confidence came below expectations.
 

EUR/USD 4-hour chart

 
The Euro is trading below 1.1110 resistance and its main SMAs, suggesting a bearish bias in the medium term. Bears need a break below 1.1074 to reach the 1.1062 and 1.1039 levels.
 

EUR/USD 30-minute chart

 
The market is trading below its main SMAs, suggesting a bearish bias in the near term. Immediate resistances are seen at the 1.1100, 1.1120 and 1.1135 levels, according to the Technical Confluences Indicator. 
 
  

Additional key levels

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com