- EUR/USD is trading within Friday’s range starting the week very quietly.
- The bear trend is intact below 1.1258 strong resistance according to the Technical Confluences Indicator.
EUR/USD daily chart
EUR/USD is in a bear trend below its 100 and 200-day simple moving average (DSMA). The market is challenging the 50 DSMA near 1.1219.
EUR/USD 4-hour chart
The market faded the bounce to the 1.1250 level and the 100 SMA.
EUR/USD 30-minute chart
EUR/USD is about to end the day in the lower part of its daily range. Bears objective is to break 1.1200 support to potentially reach 1.1160 and 1.1120 to the downside. There is strong resistance at 1.1258, which is the convergence of the Pivot Point one-month Resistance 1, the Fibonacci 61.8% one-day, and the Fibonacci 38.2% one-week, according to the Technical Confluences Indicator.
Technical Confluences Indicator
Additional key levels
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