EUR/USD Price Analysis: Euro ends the week in the green, hits highest since August

  • EUR/USD erased most of the intraday gains on Friday but ends the week mostly up. 
  • Resistance is seen at the 1.1155 and 1.1178 price levels. 

EUR/USD weekly chart

EUR/USD is trading in a weak bear trend below the main SMAs. The market is attempting to stabilize above the 1.1000 handle. A break above the 1.1200 handle would be seen as fairly bullish.

EUR/USD daily chart

After hitting its highest level since August 2019, EUR/USD erased gains and rejected the 200-day simple moving average (DMA). The market remains very choppy in the 1.1000-1.1200 zone. 

EUR/USD four-hour chart

The market might be creating a head-and-shoulders pattern. Therefore a retest of the 1.1155 level can be likely. However, a break below the 1.1090 support can lead to more weakness towards the 1.1062 and 1.1027 price levels, according to the Technical Confluences Indicator.  


Additional key levels

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *