11 Nov 2019
EUR/USD technical analysis: Euro off last week’s low, trading near 1.1040 level
- EUR/USD is starting the week quietly retracing up slightly after last week’s decline.
- The level to beat for bears is the 1.1028 support level.
- Bank holidays in the US and Canada is keeping volatility low.
EUR/USD daily chart
The Euro, on the daily chart, is trading in a downtrend below the main daily simple moving averages (DMAs). Last week, after recording its worst weekly decline since August, the Fiber is starting the week retracing some of its recent gains.
EUR/USD four-hour chart
The Euro is under pressure below its main SMAs on the four-hour chart. The market remains weak and a break below 1.1028 support level would open the way to further weakness towards the 1.1000 figure and to the 1.0965 price level, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading above the 50 and 100 SMAs, suggesting a correction up in the near term. The 1.1051 level, as well as the 1.1063/74 resistance zone, can act as resistances, according to the Technical Confluences Indicator.
Additional key levels