26 Aug 2019
EUR/USD technical analysis: Fiber sidelined near 1.1115 in the New York session
-
EUR/USD is consolidating the Friday gains, coiling around the 1.1115 level.
-
Indecision can see the market stuck in a range between 1.1098 and 1.1134 in the near term.
EUR/USD daily chart
On the daily time-frame, the single currency is trading in a bear trend below the main daily simple moving averages (DSMAs). The Euro bounced last Friday from 2-week lows as the US Dollar weakened across the board on the back of trade war fears.
EUR/USD 4-hour chart
The Fiber is trading above the 1.1115 support between the 50 and 100 SMA, suggesting a consolidation in the medium term. Buyers could be looking for a beak above 1.1134 resistance to reach the 1.1220 level, according to the Technical Confluences Indicator. However the overall trend remains bearish and 1.1134 can be a tough nut to crack.
EUR/USD 30-minute chart
EUR/USD is coiling around the 1.1115 support below the 50 SMA, suggesting a consolidation in the near term. Immediate support can be seen at the 1.1098 and the 1.1080 level, according to the Technical Confluences Indicator.
Additional key levels