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29 Nov 2019
EUR/USD Technical Analysis: Euro visits six-week lows, trades back up near 1.1000 handle
- EUR/USD low volatility extends into Friday as the market stays stuck near the 1.1000 handle.
- The key level to beat for bears is the 1.0996 support.
EUR/USD daily chart
The euro/dollar currency pair, on the daily chart, is trading in a downtrend below its main daily simple moving averages (DMAs). This Friday, on an intraday basis, the market dropped to six-week lows.
EUR/USD four-hour chart
EUR/USD is trading back near the 1.1000 handle as the market is reluctant to move down decisively. However, a daily close below the 1.0996 support level should open the doors to further losses towards the 1.0968 and 1.0916 levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading below the main SMAs, suggesting a bearish bias in the near term. Resistance can be expected at the 1.1020 and 1.1048 levels. Further up lies the 1.1070 level.
Additional key levels