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23 Oct 2019
EUR/USD technical analysis: Fiber enters the Asian session near Tuesday’s lows
- The Greenback picked up some steam this Tuesday, helping EUR/USD to decline near two-day lows.
- The Brexit chaos is weighing on the market mood and the Euro.
- The key macroeconomic event of the week is the European Central Bank (ECB) interest rate decision on Thursday.
EUR/USD daily chart
On the daily chart, the shared currency is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The Brexit optimism is fading somewhat and it is weighing on the Euro. Investors will start to focus on the key macroeconomic event of the week: the European Central Bank (ECB) interest rate decision on Thursday.
EUR/USD four-hour chart
EUR/USD, on the four-hour chart, is retracing down from the October highs, trading now below the 1.1140 level. As the market is weakening, the retracement can extend towards the 1.1110 and 1.1065 price levels on the way down, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
The Fiber is trading below its main SMAs on the 30-minute chart, suggesting a bearish bias in the near term. Resistance can be seen near 1.1140 and 1.1160 price levels, according to the Technical Confluences Indicator.
Additional key levels