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27 Aug 2019
EUR/USD technical analysis: Fiber drifting below the 1.1100 figure into the London close
- EUR/USD is trading below 1.1100 as the London session comes to an end.
- The level to beat for bears is at 1.1080 support.
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).
EUR/USD 4-hour chart
Fiber is breaking below 1.1098 support. If the bears keep the pressure, the market may drop towards the 1.1080 and 1.1052 levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading at daily lows below its main SMAs suggesting bearish momentum. The bear breakout so far seems to lack conviction so it remains to be seen how the bears will sustain the move on Wednesday. Immediate resistance is seen at 1.1098, 1.1117 and 1.1134 levels, according to the Technical Confluences Indicator.
Additional key levels