28 Nov 2019
EUR/USD Technical Analysis: Euro hovering above the 1.1000 handle in the New York session
- EUR/USD remains under pressure near the November lows.
- The key level to beat for bears is the 1.0996 support.
- Thanksgiving bank’s holiday in the US can keep the market choppy for the remainder of the day.
EUR/USD daily chart
The euro/dollar currency, on the daily time frame, is trading in a bear trend below the main daily simple moving averages (DMAs). This Thursday, the market is hovering just above the 1.1000 handle.
EUR/USD four-hour chart
The market is drifting down in a very tight range below the 1.1020 and 1.1046 resistance level. The outlook remains negative for the common currency as a breakdown below the 1.0996 support level could potentially open the doors to further losses towards the 1.0968 and 1.0916 levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading virtually unchanged on the day while trading below a downward sloping 200 SMA. Resistance is expected at the 1.1020 level. Further up lie the 1.1048 and 1.1070 levels.
Additional key levels