“¢ The pair extended its recent bearish trajectory and remained under some selling pressure for the sixth straight session, also marking the seventh day of losses in the previous eight.
“¢ The momentum dragged the pair below the 1.1300 handle for the first time in just over two weeks, though bears took a breather near late-Jan. swing lows, around the 1.1290 area.
“¢ The mentioned region coincides with three-month-old support and bearish technical indicators on hourly/daily charts support prospects for an eventual bearish breakthrough.
“¢ A sustained weakness below the said support might act as a key trigger for bearish traders and pave the way for further downside towards challenging the 1.1215 region – Nov. swing lows.
EUR/USD daily chart
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EUR/USD
Overview:
Today Last Price: 1.1308
Today Daily change %: -0.12%
Today Daily Open: 1.1322
Trends:
Daily SMA20: 1.1399
Daily SMA50: 1.14
Daily SMA100: 1.1425
Daily SMA200: 1.1544
Levels:
Previous Daily High: 1.1353
Previous Daily Low: 1.132
Previous Weekly High: 1.1462
Previous Weekly Low: 1.132
Previous Monthly High: 1.1586
Previous Monthly Low: 1.1289
Daily Fibonacci 38.2%: 1.1333
Daily Fibonacci 61.8%: 1.134
Daily Pivot Point S1: 1.1311
Daily Pivot Point S2: 1.13
Daily Pivot Point S3: 1.1279
Daily Pivot Point R1: 1.1343
Daily Pivot Point R2: 1.1364
Daily Pivot Point R3: 1.1375
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