EUR/USD technical analysis: Euro ends Tuesday near its weekly lows, sub-1.1173 level

 |  13/08/2019 22:03
  • Risk-on is strengthening the Greenback and weakening safe-haven assets.
  • EUR/USD is ending Tuesday below the 1.1173 level.
  • USTR additional tariffs on some products will be delayed to December 15.
 
 

EUR/USD daily chart

 
EUR/USD has been trapped in a range for six consecutive days. The common currency is capped by the 1.1220/55 resistances as well as the 50/100-day simple moving averages (DSMAs). The US said some tariffs would be delayed until December 15. The news sparked a risk-on environment as US stock indices and WTI leapt higher, safe-haven Gold, Yen and CHF sold-off and the Greenback rose. 
 

EUR/USD 4-hour chart

 
EUR/USD is in a range between the 1.1255 resistance and the 1.1160 support while the market is trading below a downward sloping 200 SMA. Bears are challenging the 1.1173 support. However, ideally EUR/USD would need a daily close below 1.1160 to confirm a bearish bias in the medium term. 
  
 

EUR/USD 30-minute chart

 
The market is about to end Tuesday near 1.1173 while below its main SMAs. Today’s decline might lead to further losses. Immediate resistances are seen at 1.1200 and 1.1220, according to the Technical Confluences Indicator. 
 
 

Additional key levels

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for Market Insight viewers

Back

Login to Market Insight Account

Your Market Insight account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

Create a Market Insight's Account

Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to Market Insight family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@marketinsight.com