Market news
03.12.2021, 21:17

EUR/USD Price Analysis: Trapped between the 4-hour 50 and 100-SMA, around 1.1300

  • The shared currency advances against the greenback, up some 0.10%.
  • The US Dollar Index, which measures the buck’s performance against six rivals, is flat at 96.16.
  • EUR/USD: Mild bearish, but it needs a break below the 50-SMA to resume the downward move.

After seesawing before the Wall Street open on US macroeconomic data, the EUR/USD advances modestly, up some 0.10%, trading at 1.1309 during the New York session at the time of writing. The market sentiment is downbeat, as portrayed by US equity indices falling, between 0.77% and 2.61%. Furthermore, in the bond market, US bond yields aim downward. Contrarily the greenback is flat during the day, with the US Dollar Index sitting at 96.16, unchanged.

The EUR/USD remained subdued during the overnight session, in a narrow range between 1.1280-1.1307 range, ahead of the US Nonfarm Payrolls release. However, once the NFP crossed the wires, the pair seesawed around 1.1332-1.265, settling at 1.1300.

EUR/USD Price Forecast: Technical outlook

The EUR/USD 4-hour chart shows that the pair has a downward bias. While the 50-simple moving average (SMA) is below the spot price, the 100 and the 200-SMA reside above the spot price, confirming the abovementioned. The pair has been range-bound between the 50 and the 100-SMA, each lying at 1.1280-1.1315, with no clear direction, and as the New York session winds down, it seems the EUR/USD would remain trapped at it.

In the outcome of a break above the 100-SMA, the first supply zone would be the November 30 high at 1.1382. The breach of the latter would open the way for further upside, with 1.1400 as the next resistance, followed by the confluence of the 200-SMA and the November 15 high at around the 1.1450-70 range.

On the other hand, a break under the 50-SMA would expose the 1.1200 figure, followed by the year-to-date low at the  November 24 low at 1.1186.


© 2000-2022. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location