EUR/USD New York Price Forecast: Euro off 34-month lows post-US Retail Sales



EUR/USD daily chart 

EUR/USD is trading in a weak bear trend below the main daily simple moving averages (SMAs) as the quote is bouncing off 34-month lows. The US Retail Sales Control Group in January came in slightly below expectation at 0% vs. 0.3% forecast sending USD down little and made EUR/USD tick up.

EUR/USD four-hour chart

EUR/USD broke below the downward channel while trading well below its main SMAs on the four-hour chart. The market remains under selling pressure near 34-month lows as bears want to break below the 1.0826 support level. Further down lie the 1.0800 figure and 1.0756 price level. Resistances are seen near the 1.0882, 1.0930 and 1.0984 levels, according to the Technical Confluences Indicator

Resistance: 1.0882, 1.0930, 1.0984
Support: 1.0826, 1.0800, 1.0756

Additional key levels 


Today last price1.0855
Today Daily Change0.0014
Today Daily Change %0.13
Today daily open1.0841


Daily SMA201.101
Daily SMA501.1084
Daily SMA1001.1067
Daily SMA2001.1117


Previous Daily High1.0889
Previous Daily Low1.0834
Previous Weekly High1.1089
Previous Weekly Low1.0942
Previous Monthly High1.1225
Previous Monthly Low1.0992
Daily Fibonacci 38.2%1.0855
Daily Fibonacci 61.8%1.0868
Daily Pivot Point S11.0821
Daily Pivot Point S21.08
Daily Pivot Point S31.0766
Daily Pivot Point R11.0875
Daily Pivot Point R21.091
Daily Pivot Point R31.093