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14 Feb 2020
EUR/USD Price Analysis: Euro ends the week near 34-month lows
- EUR/USD bear trend remains, for now, intact as sellers remain in control near 34-month lows.
- EUR/USD is ticking up after slightly disappointing Retail Sales data from the US.
EUR/USD weekly chart
EUR/USD broke down to levels not seen since April 2017. The market is trading below its main weekly simple moving averages (SMAs) suggesting a bearish bias in the long term.
EUR/USD daily chart
EUR/USD is trading in a weak bear trend below its main daily simple moving averages (SMAs) as the quote is under pressure near 34-month lows.
EUR/USD four-hour chart
The euro broke below the bear channel while trading well below the main SMAs on the four-hour chart. The spot remains under bearish pressure near 34-month lows as sellers want a breakdown below the 1.0826 support level. Further down lie the 1.0800 figure and 1.0756 price levels. Resistances are seen near the 1.0882, 1.0930 and 1.0984 levels, according to the Technical Confluences Indicator.
Resistance: 1.0882, 1.0930, 1.0984
Support: 1.0826, 1.0800, 1.0756
Additional key levels