7 Oct 2019
EUR/USD technical analysis: Fiber hangs to daily highs into the London close
- EUR/USD is about to end the London session little changed this Monday, trading below the 1.1000 handle.
- Earlier in Europe, the German Factory Orders fell by 0.6% monthly and 6.7% yearly in August.
EUR/USD daily chart
On the daily chart, the shared currency is trading in a bear trend below its main daily simple moving averages (DSMAs).In the European session, the Factory Orders in Germany declined by 0.6% monthly and 6.7% yearly in August.
EUR/USD four-hour chart
The market is trapped in the 1.0960 and 1.1000 range. The spot needs a break beyond 1.1000 is to move up towards the 1.1025/43 resistances, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading above the main SMAs, suggesting an upward bias in the near term. Immediate support is seen at the 1.0975 and 1.0960/40 price levels. Further down lie the 1.10890 support, according to the Technical Confluences Indicator.
Additional key levels