EUR/USD Technical Analysis: Euro rolling into the Asian session below the 1.1024 level

 

 

The Euro, on the daily chart, is trading in a downtrend below the main daily simple moving averages (DMAs). This Thursday, the market traded mainly sideways with a spike at the end of the London session.

 

 

 

The market is trading below the main SMAs, suggesting a bearish bias in the medium term. The spot is likely to stay under bearish pressure below the 1.1024 resistance level as EUR/USD remains predominantly weak and could see an extension of the down move towards the 1.0995, 1.0966 and 1.0920 support levels, according to the Technical Confluences Indicator. 

 

 

The Euro rose above its main SMAs on the 30-minute chart, suggesting a potential correction up in the near term. Resistances can be seen at the 1.1024, 1.1052 and 1.1075 price levels, according to the Technical Confluences Indicator.