EUR/USD Technical Analysis: Set-up turns in favor of bearish traders, sustained break below 1.1300 mark awaited


   •  The pair snapped four consecutive days of losing streak and started retreating from the top end of an ascending trend-channel formation on the 1-hourly chart.

   •  Bears momentarily dragged the pair below an important confluence region near the 1.1300 handle – comprising of the trend-channel support and 50-hour EMA.

   •  Oscillators on the daily chart maintained their bearish bias and have been losing momentum on the 1-hourly chart, adding credence to the near-term bearish set-up.

   •  Hence, the emergence of technical selling has the potential to accelerate the intraday bearish trajectory towards 1.1280 intermediate support en-route the 1.1250-40 region. 

EUR/USD 1-hourly chart


    Today Last Price: 1.1301
    Today Daily change: -27 pips
    Today Daily change %: -0.24%
    Today Daily Open: 1.1328
    Daily SMA20: 1.1318
    Daily SMA50: 1.1369
    Daily SMA100: 1.137
    Daily SMA200: 1.1492
    Previous Daily High: 1.134
    Previous Daily Low: 1.1278
    Previous Weekly High: 1.1388
    Previous Weekly Low: 1.1176
    Previous Monthly High: 1.1489
    Previous Monthly Low: 1.1234
    Daily Fibonacci 38.2%: 1.1316
    Daily Fibonacci 61.8%: 1.1301
    Daily Pivot Point S1: 1.129
    Daily Pivot Point S2: 1.1253
    Daily Pivot Point S3: 1.1228
    Daily Pivot Point R1: 1.1352
    Daily Pivot Point R2: 1.1377
    Daily Pivot Point R3: 1.1414

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