20 Nov 2019
EUR/USD Technical Analysis: Euro trading mixed ahead of FOMC minutes
- The market is consolidating the recent gains below the 1.1083 resistance ahead of the FOMC minutes.
- The level to beat for bears is the 1.1043 level.
EUR/USD daily chart
The Euro, on the daily chart, is trading in a bear trend below downward sloping 100 and 200-day simple moving averages (DMAs). EUR/USD is trading mixed ahead of the FOMC minutes at 19:00 GMT.
EUR/USD four-hour chart
The market is trading below the 1.1083 resistance and the 100/200 SMAs. As the sellers manage to keep the spot below 1.1083, there is the potential for a move down to the 1.1043, 1.1014 and 1.0991 levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading below its 50 and 100 SMAs, suggesting a potential correction down in the near term. Resistance is seen at 1.1083. However, a daily close above the level can lead to further gains towards the 1.1112 and 1.1152 resistances.
Additional key levels