Home EUR/USD Price Analysis: Euro under pressure, challenges 1.1000 figure
FXStreet News

EUR/USD Price Analysis: Euro under pressure, challenges 1.1000 figure

FX Street
Updated:
  • EUR/USD stays under selling pressure while challenging the 1.1000 figure.
  • As bears gain momentum they could reach 1.0958 price level.  
 

EUR/USD daily chart 

 
The euro is trading in a weak bear trend below its main simple moving averages (SMAs) as the market broke below an ascending trendline three days ago. The spot formed a head-and-shoulders formation which is driving the market towards its lowest point since November.
 

EUR/USD four-hour chart

 
EUR/USD is trading in a bear channel below its main SMAs as the market is grinding lower. The spot is challenging the 1.1000 figure; a beak of this psychological level could lead to further downside towards the 1.0958 levels, according to the Technical Confluences Indicator. 
  

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.

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 – 2024