Home EUR/USD Technical Analysis: the resumption of the selling bias could test the 1.1040 region

FXStreet News

EUR/USD Technical Analysis: the resumption of the selling bias could test the 1.1040 region

FX Street

Published date: 29 Oct. 2019 | 11:27

EUR/USD has left behind the optimism seen at the beginning of the week and is today challenging recent lows in the 1.1080/70 band.
Against this backdrop, Thursday’s bearish ‘outside day’ remains well in place and still points to further losses in the near term.
That said, a deeper pullback should see the 55-day SMA at 1.1040 retested. This area of support is reinforced by the proximity of the 21-day SMA, today at 1.1045.

EUR/USD daily chart

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.