- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Dips below 1.0900, though retains bullish bias on daily chart
EUR/USD Price Analysis: Dips below 1.0900, though retains bullish bias on daily chart
- EUR/USD is bullish despite falling to a three-day low.
- The daily chart portrays the formation of a bullish hammer, which could pave the way to challenge 1.1000.
- A bearish resumption would happen if EUR/USD stays below 1.0900.
The Euro (EUR) dropped to a three-day low against the US Dollar (USD), though it remains bullish according to the daily chart, as Wednesday’s price action formed a ‘hammer’ preceded by a downtrend. Although it warrants further upside is expected, the break of crucial resistance levels must be achieved to extend the rally. The EUR/USD trades at 1.0884, down 0.03%.
To cement the uptrend, EUR/USD buyers need to reclaim the 1.0900 figure. Once done, the next resistance level would be the November 21 swing high at 1.0965, followed by the 1.1000 figure. A breach of the latter would expose the August 10 high at 1.1065.
Conversely, if EUR/USD stays below 1.0900 and extends its losses past the November 22 low of 1.0852, that could exacerbate the pair’s drop to challenge the 200-day moving average (DMA) at 1.0808. If buyers surrender the latter, the major would fall toward the 1.0700 mark.
EUR/USD Price Analysis – Daily Chart
EUR/USD Technical Levels
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
