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10 Sep 2019
EUR/USD technical analysis: Euro sidelined near 1.1040 in the New York session
- EUR/USD is trading quietly in familiar ranges on the second day of the week.
- The key level to beat for sellers is the 1.1020 support level.
EUR/USD daily chart
On the daily time-frame, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). The market has been consolidation for four days in a row.
EUR/USD four-hour chart
EUR/USD is consolidating last week’s adance in the 1.1020/1.1073 range. The market is trading below the downward sloping 100 and 200 SMAs, suggesting bearish momentum in the medium term. Bears need to break below 1.1020 support to drive the market towards 1.0990 and 1.0964 price levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
The Euro is trading within the range of the last three days. The market is trading just above its 100 and 200 SMAs, suggesting bullish momentum in the short term. However, bulls will need a daily close above 1.1073 to attract further buying interest.
Additional key levels