EURUSD corrects further down and revisits 0.9730 on Thursday. (Pivot Orderbook analysis)
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- EURUSD corrects further down and revisits 0.9730 on Thursday.
- Extra weakness could see the 0.9700 zone revisited near term.
The pair currently trades last at 0.9751.
The previous day high was 0.9976 while the previous day low was 0.9813. The daily 38.2% Fib levels comes at 0.9875, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9914, expected to provide resistance.
EURUSD breaches the 0.9800 support and prints new 2-week lows around the 0.9730 level on Thursday.
Considering the ongoing price action, further downside should not be ruled out in the short term. Against that, the pair could slip back to the weekly low at 0.9704 (October 21) prior to the monthly low at 0.9631 (October 13).
Further losses remain on the cards in the near term while EURUSD navigates below the 9-month resistance line, today near 0.9880.
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0474.
Technical Levels: Supports and Resistances
EURUSD currently trading at 0.9751 at the time of writing. Pair opened at 0.9818 and is trading with a change of -0.68 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9751 |
| 1 | Today Daily Change | 109.0000 |
| 2 | Today Daily Change % | -0.6800 |
| 3 | Today daily open | 0.9818 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9835, 50 SMA 0.9883, 100 SMA @ 1.0066 and 200 SMA @ 1.0483.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9835 |
| 1 | Daily SMA50 | 0.9883 |
| 2 | Daily SMA100 | 1.0066 |
| 3 | Daily SMA200 | 1.0483 |
The previous day high was 0.9976 while the previous day low was 0.9813. The daily 38.2% Fib levels comes at 0.9875, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9914, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9762, 0.9706, 0.9599
- Pivot resistance is noted at 0.9925, 1.0032, 1.0089
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9976 |
| Previous Daily Low | 0.9813 |
| Previous Weekly High | 1.0094 |
| Previous Weekly Low | 0.9807 |
| Previous Monthly High | 1.0094 |
| Previous Monthly Low | 0.9632 |
| Daily Fibonacci 38.2% | 0.9875 |
| Daily Fibonacci 61.8% | 0.9914 |
| Daily Pivot Point S1 | 0.9762 |
| Daily Pivot Point S2 | 0.9706 |
| Daily Pivot Point S3 | 0.9599 |
| Daily Pivot Point R1 | 0.9925 |
| Daily Pivot Point R2 | 1.0032 |
| Daily Pivot Point R3 | 1.0089 |
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