EUR/USD Price Analysis: Euro ends the week in the green, hits highest since August

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  • EUR/USD erased most of the intraday gains on Friday but ends the week mostly up. 
  • Resistance is seen at the 1.1155 and 1.1178 price levels. 
 

EUR/USD weekly chart

 
EUR/USD is trading in a weak bear trend below the main SMAs. The market is attempting to stabilize above the 1.1000 handle. A break above the 1.1200 handle would be seen as fairly bullish.
 
 

EUR/USD daily chart

 
After hitting its highest level since August 2019, EUR/USD erased gains and rejected the 200-day simple moving average (DMA). The market remains very choppy in the 1.1000-1.1200 zone. 
 

EUR/USD four-hour chart

 
The market might be creating a head-and-shoulders pattern. Therefore a retest of the 1.1155 level can be likely. However, a break below the 1.1090 support can lead to more weakness towards the 1.1062 and 1.1027 price levels, according to the Technical Confluences Indicator.  
      

Additional key levels

 

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