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20 Jan 2020
EUR/USD Price Analysis: Euro under pressure below 1.1100 level and 50 DMA
- EUR/USD is kicking off the new trading week near January lows.
- The market is breaching the 1.1100/1.1090 support zone.
EUR/USD daily chart
EUR/USD is trading in a weak downtrend below the 200-day simple moving average (SMA). EUR/USD is kicking off the new week trading just below the 1.1100 level and the 50 SMA.
EUR/USD four-hour chart
The market is trading below the main SMAs, suggesting an underlying bearish momentum. As the market is breaching the January lows in the 1.1100/1.1090 support zone, EUR/USD could continue to decline towards the 1.1067, 1.1033 and 1.1000 levels; according to the Technical Confluences Indicator. In the event the market regains the 1.1125/50 area on a daily closing basis it could invalidate the bearish scenario.
Additional key levels