Home EUR/USD Price Analysis: The 55-day SMA holds the downside”¦for now
FXStreet News

EUR/USD Price Analysis: The 55-day SMA holds the downside”¦for now

  • EUR/USD meets daily contention in the 1.1800 neighbourhood so far.
  • Extra losses appear contained near 1.1790 for the time being.

The upside momentum in EUR/USD appears to have met a decent barrier at monthly highs in the 1.1880 region (October 21).

The continuation of the side-lined mood seems underpinned by the 55-day SMA and last week’s lows in the 1.1790 zone. A break of this consolidative range in either direction is expected to risk a deeper pullback to the 1.1700 area, while the resumption of the bull trend is seen facing a key hurdle at 1.1880 initially.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1300.

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.