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EUR/USD Technical Analysis: Euro challenges the 2019 low during the ECB press conference

EUR/USD daily chart

  • EUR/USD is trading in a bear trend below the 50, 100 and 200-day simple moving averages (SMAs).
  • The European Central Bank (ECB) left its key interest rate unchanged.
  • As the ECB press conference unfolds, EUR/USD tested the 2019 low.

EUR/USD 4-hour chart

  • EUR/USD is trading below its main SMAs as the market tested the 2019 low.

EUR/USD 30-minute chart

  • Although bears brought the market to the 2019 low, bulls are already back bringing the market above 1.1350.  
  • EUR/USD is set to remain sideways as the SMAs are coiled together. However, it wouldn’t be surprising to see bulls marching towards 1.1380, 1.1430 and 1.1470 levels in the coming sessions.

Additional key levels

EUR/USD

Overview:
       Today Last Price:  1.1365
       Today Daily change:  -17  pips
       Today Daily change %:  -0.15%
       Today Daily Open:  1.1382
Trends:
       Daily SMA20:  1.1426
       Daily SMA50:  1.1391
       Daily SMA100:  1.1456
       Daily SMA200:  1.1589
Levels:
       Previous Daily High:  1.1396
       Previous Daily Low:  1.1351
       Previous Weekly High:  1.1491
       Previous Weekly Low:  1.1353
       Previous Monthly High:  1.1486
       Previous Monthly Low:  1.1269
       Daily Fibonacci 38.2%:  1.1378
       Daily Fibonacci 61.8%:  1.1368
       Daily Pivot Point S1:  1.1357
       Daily Pivot Point S2:  1.1331
       Daily Pivot Point S3:  1.1312
       Daily Pivot Point R1:  1.1402
       Daily Pivot Point R2:  1.1421
       Daily Pivot Point R3:  1.1447

 

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