EUR/USD Technical Analysis: Euro reverses daily losses as bulls set their eyes on 1.1400 figures

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  • EUR/USD is trading in a bear trend below the 200-period simple moving average. The US Gross Domestic Product for the third quarter earlier came better than expected at 3.5% versus 3.3% forecast.
  • EUR/USD remains weak but the oversold condition can lead to a bounce up. Bulls would need a break above 1.1400 on a daily closing basis to confirm a bullish reversal. 
  • Meanwhile, 1.1300 (2018 low) is the targets for bears. 

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: Euro reverses daily losses as bulls set their eyes on 1.1400 figures

Spot rate:             1.1376
Relative change:   0.01%  
High:                    1.1389
Low:                     1.1335

Main trend:             Bearish

Resistance 1:   1.1400 figure
Resistance 2:   1.1430 October 9 low
Resistance 3:   1.1463 October 4 low
Resistance 4:   1.1463 October 4 low
Resistance 5:   1.1500 figure and October 2 swing low 
Resistance 6:   1.1530 August 23 swing low (key level)

Support 1:   1.1350 figure
Support 2:   1.1300 current 2018 low
Support 3:   1.1200 figure  

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