EUR/USD Technical Analysis: Euro clings to eight-day's highs, 1.1093 resistance stays in focus

2019-12-03 17:38 (GMT+)
  • EUR/USD is clinging to the weekly gains into the London close.
  • The level to beat for buyers is the 1.1093 resistance. 
 

EUR/USD daily chart

 
EUR/USD on the daily chart is trading in a bear trend below its 200-day simple moving average (DMA). However, at the start very start of the week, the market had a massive reversal up above the 1.1000 handle and the 50/100 SMAs. 
 

EUR/USD four-hour chart

 
EUR/USD is flirting with the 1.1093 resistance while holding above the 200 SMA. If the spot can overcome this critical resistance, EUR/USD could continue to climb towards the 1.1139 level and potentially up to 1.1180 in the medium term, according to the Technical Confluences Indicator. 
    

EUR/USD 30-minute chart

 
The spot had an above-average bullish breakout on the first day of the week. Support can be expected at the 1.1059, 1.1040 and 1.1013 price levels, according to the Technical Confluences Indicator. 
 

Additional key levels

 


Tag:EURUSD | Technical Analysis | Majors | Fed | ECB

Trade Now