• EUR/USD remains pressured around short-term key support, snaps two-day uptrend.
  • The convergence of 50-SMA, a one-month-old ascending trend line puts a floor under the prices.
  • Impending bear cross on MACD also keeps sellers hopeful.

In addition to the quote’s retreat from 1.0669, the looming bear cross on the MACD also teases the EUR/USD sellers of late.

However, a clear downside break of the 1.0620 support confluence comprising the 50-SMA and an upward-sloping trend line from late November becomes necessary for the EUR/USD sellers to retake control.

On the contrary, recovery moves need to stay beyond the latest swing high surrounding 1.0670 to direct the EUR/USD pair buyers toward the monthly high of 1.0736.

Also acting as an upside filter is May’s peak of around 1.0790 and the 1.0800 round figure.

Overall, EUR/USD is likely to return to the bear’s radar but a clear break of 1.0620 is necessary.

EUR/USD: Four-hour chart

Trend: Further downside expected


Today last price 1.0632
Today Daily Change -0.0009
Today Daily Change % -0.08%
Today daily open 1.0641
Daily SMA20 1.0569
Daily SMA50 1.0296
Daily SMA100 1.0115
Daily SMA200 1.033
Previous Daily High 1.067
Previous Daily Low 1.0612
Previous Weekly High 1.0659
Previous Weekly Low 1.0573
Previous Monthly High 1.0497
Previous Monthly Low 0.973
Daily Fibonacci 38.2% 1.0648
Daily Fibonacci 61.8% 1.0634
Daily Pivot Point S1 1.0612
Daily Pivot Point S2 1.0583
Daily Pivot Point S3 1.0554
Daily Pivot Point R1 1.067
Daily Pivot Point R2 1.0699
Daily Pivot Point R3 1.0728


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