Home EUR/USD Technical Analysis: Persistent weakness could visit the 55-day SMA
FXStreet News

EUR/USD Technical Analysis: Persistent weakness could visit the 55-day SMA

FX Street
Published date:
  • EUR/USD prolongs the negative price action below the 200day SMA.
  • Below the 55-day SMA at 1.1093 the selling bias should re-emerge.

EUR/USD trades on the defensive for the second session in a row. Losses are expected to pick up pace following the breakdown of the 200-day SMA in the 1.1140 region.

The bullish move that started in early December appears to have lost momentum, leaving an interim top in the vicinity of 1.1240 (December 31st) for the time being.

Further downside should now allow a visit to the 55-day SMA in sub-1.1100 levels, reinstalling at the same time the bearish view in the par.

EUR/USD daily chart

 

FX Street

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.

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.

© forexcrunch.com All Rights Reserved 2017 – 2026