EUR/USD technical analysis: Euro under pressure in the New York session, trades below 1.1090 level

 

 

The Fiber, on the daily chart, is trading in a downtrend below its 100 and 200-day simple moving averages (DMAs). The market is trading in a tight range this Thursday at the start of the New York session. 

 

 

Fiber is trading below its 50 and 100 SMAs on the four-hour chart. The market is starting the New York session trading in a tight range below the 1.1090 resistance. Bears will need a daily close below 1.1045 to trigger further weakness towards the 1.1000 figure and to the 1.0964 price level if the bears gather enough steam, according to the Technical Confluences Indicator. 

 

 

EUR/USD is trading below downward sloping 100 and 200 SMAs, suggesting a bearish momentum in the near term. The 1.1090 level should act as resistance as well as the 1.1118 level. Further up lie the 1.1141 resistance, according to the Technical Confluences Indicator.