EUR/USD is trading in a bear trend below the 200-period simple moving average. Earlier in the day, he Core Personal Consumption Expenditures for September came in at 2% in line with analysts forecasts with mild reaction on the currency pair. EUR/USD is currently finding resistance near the 1.1400 figure as bears want a retest of the 1.1300 (2018 low). EUR/USD might have run its course as the market is forming a small head-and-shoulders pattern while technical indicators are gaining some bullish traction. Bulls would need a breakout above 1.1400 on a daily closing basis. After which 1.1430 and 1.1500 could potentially be back on the radar. Alternatively, failure to recapture 1.1400 in the coming sessions could lead to a slump to the 2018 low. EUR/USD 4-hour chart Spot rate: 1.1374 Relative change: -0.25% High: 1.1417 Low: 1.1360 Main trend: Bearish Resistance 1: 1.1400 figure Resistance 2: 1.1430 October 9 low Resistance 4: 1.1463 October 4 low Resistance 5: 1.1500 figure and October 2 swing low Resistance 6: 1.1530 August 23 swing low (key level) Support 1: 1.1350 figure Support 2: 1.1300 current 2018 low Support 3: 1.1200 figure 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. View All Post By FX Street FXStreet News share Read Next Canada: Focus on BoC testimony and GDP this week – TDS FX Street 4 years EUR/USD is trading in a bear trend below the 200-period simple moving average. Earlier in the day, he Core Personal Consumption Expenditures for September came in at 2% in line with analysts forecasts with mild reaction on the currency pair. EUR/USD is currently finding resistance near the 1.1400 figure as bears want a retest of the 1.1300 (2018 low). EUR/USD might have run its course as the market is forming a small head-and-shoulders pattern while technical indicators are gaining some bullish traction. Bulls would need a breakout above 1.1400 on a daily closing basis. After which 1.1430 and 1.1500… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
