EUR/USD Remains At Risk
EUR/USD started a fresh decline below the 1.0765 support.
Important Takeaways for EUR/USD Analysis Today
· The Euro is declining and showing bearish signs below the 1.0745 resistance zone.
· There is a key bearish trend line forming with resistance near 1.0715 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh decline from the 1.0790 resistance. The Euro declined below the 1.0745 support zone against the US Dollar.
It settled below the 50-hour simple moving average and spiked below 1.0690. A low was formed near 1.0672 before there was a minor recovery. The pair climbed above 1.0715 but the bears were active near the 1.0745 resistance.
A high is formed near 1.0746 and the pair is again moving lower. There was a move below the 50% Fib retracement level of the upward move from the 1.0672 low to the 1.0746 high.
The RSI is dipping and EUR/USD is approaching the 76.4% Fib retracement level of the upward move from the 1.0672 low to the 1.0746 high at 1.0690. The first major support is near the 1.0670 level, below which the pair could start a major decline. In the stated case, the pair might dive toward the 1.0620 support zone.
On the EUR/USD chart, the pair is now facing resistance near a key bearish trend line at 1.0715. The next major resistance is near the 1.0745 level. An upside break above 1.0745 could set the pace for another increase. In the stated case, the pair might visit 1.0790.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Important Takeaways for EUR/USD Analysis Today
· The Euro is declining and showing bearish signs below the 1.0745 resistance zone.
· There is a key bearish trend line forming with resistance near 1.0715 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh decline from the 1.0790 resistance. The Euro declined below the 1.0745 support zone against the US Dollar.
It settled below the 50-hour simple moving average and spiked below 1.0690. A low was formed near 1.0672 before there was a minor recovery. The pair climbed above 1.0715 but the bears were active near the 1.0745 resistance.
A high is formed near 1.0746 and the pair is again moving lower. There was a move below the 50% Fib retracement level of the upward move from the 1.0672 low to the 1.0746 high.
The RSI is dipping and EUR/USD is approaching the 76.4% Fib retracement level of the upward move from the 1.0672 low to the 1.0746 high at 1.0690. The first major support is near the 1.0670 level, below which the pair could start a major decline. In the stated case, the pair might dive toward the 1.0620 support zone.
On the EUR/USD chart, the pair is now facing resistance near a key bearish trend line at 1.0715. The next major resistance is near the 1.0745 level. An upside break above 1.0745 could set the pace for another increase. In the stated case, the pair might visit 1.0790.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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