The market is erasing parts of last Friday’s surge. The level to beat for sellers is the 1.1060 support. EUR/USD daily chart EUR/USD is trading in a weak downtrend below its main simple moving averages (SMAs) as the spot broke below an ascending trendline. The euro last Friday bounced and tested the trendline. The spot stays weak below the 200 SMA/1.1200 zone and is likely to enter a triangle consolidation in the coming sessions. EUR/USD four-hour chart EUR/USD is trading in a bear channel below the 100 and 200 SMAs. The spot almost reached the 1.1100 resistance and is now easing from this swing high. As the euro remains weak, a break below the 1.1060 support can lead to a retest of 1.1033 and 1.1000 figure. On the flip side, a break above the 1.1100/1.1140 resistance zone could endanger the bearish scenario, according to the Technical Confluences Indicator. Support: 1.1060, 1.1033, 1.1000 Resistance: 1.1080, 1.1100, 1.1140 Additional key levels 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. View All Post By FX Street FXStreet News share Read Next RBA: Much has happened since the RBA Board’s last meeting 2 months ago – Westpac FX Street 2 years The market is erasing parts of last Friday’s surge. The level to beat for sellers is the 1.1060 support. EUR/USD daily chart EUR/USD is trading in a weak downtrend below its main simple moving averages (SMAs) as the spot broke below an ascending trendline. The euro last Friday bounced and tested the trendline. The spot stays weak below the 200 SMA/1.1200 zone and is likely to enter a triangle consolidation in the coming sessions. EUR/USD four-hour chart EUR/USD is trading in a bear channel below the 100 and 200 SMAs. The spot almost reached the 1.1100… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
