- The Euro is trading near daily lows as the New York session kicks in.
- The newly appointed ECB’s President, Christine Lagarde, will be delivering a speech at 20:30 GMT.
EUR/USD daily chart
On the daily chart, the Fiber is trading in a bear trend below the 200-day simple moving average (DMA). This Monday, the spot is trading off the October highs ahead of ECB’s Christine Lagarde’s speech at 20:30 GMT. Investors will be on the lookout for some comments about future monetary policy. The event can lead to potential volatility in the market.
EUR/USD four-hour chart
The Euro, on the four-hour chart, might be trading in an ascending triangle pattern. However, in the event the spot breaks to the upside, the market could reach the 1.1183/1.1200 zone, 1.1217 and 1.1262 resistances on the way up, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading below the 1.1161 resistance and the 50/100 SMAs on the 30-minute chart, suggesting a consolidation in the near term. Resistances are seen at 1.1161 and 1.1183/1.1200 price zone. A breakdown below 1.1141 is necessary to trigger further weakness towards the 1.1129 level and 1.1111 support level.
Additional key levels
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