{"id":1603,"date":"2024-05-24T14:27:01","date_gmt":"2024-05-24T14:27:01","guid":{"rendered":"https:\/\/thetalabmarketing.com\/?p=1603"},"modified":"2024-05-24T14:27:02","modified_gmt":"2024-05-24T14:27:02","slug":"eur-usd-price-analysis-the-crucial-resistance-level-will-emerge-at-the-1-0790-1-0800-region","status":"publish","type":"post","link":"https:\/\/thetalabmarketing.net\/?p=1603","title":{"rendered":"EUR\/USD Price Analysis: The crucial resistance level will emerge at the 1.0790\u20131.0800 region"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><strong>EUR\/USD weakens to 1.0775 on the firmer USD on Friday.<\/strong><\/li>\n\n\n\n<li><strong>The pair keeps the bearish vibe below the key EMA on the daily timeframe.&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>The&nbsp;key&nbsp;resistance level will emerge in the 1.0790\u20131.0800 zone; the first downside target&nbsp;is&nbsp;located&nbsp;at&nbsp;1.0724.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The EUR\/USD pair&nbsp;trades on a softer note near 1.0775 during the early European hours on Friday. The downtick of the&nbsp;major&nbsp;pair&nbsp;is supported&nbsp;by the renewed US Dollar (USD) demand amid hawkish comments from Federal Reserve (Fed) officials. Later on Friday, the US Michigan Consumer Sentiment Index for May will&nbsp;be released,&nbsp;which&nbsp;is&nbsp;projected&nbsp;to drop from 77.2 in April to 76.0 in May.<\/p>\n\n\n\n<p>According to the daily&nbsp;chart, EUR\/USD has traded within a descending trend channel since mid-December 2023. The bearish&nbsp;outlook&nbsp;of the&nbsp;major&nbsp;pair remains intact, as it is below the&nbsp;key&nbsp;100-period Exponential Moving Average (EMA). However, the 14-day Relative Strength Index (RSI) stands in bullish territory around 55, indicating that further upside cannot&nbsp;be ruled out.<\/p>\n\n\n\n<p>The&nbsp;key&nbsp;resistance level for EUR\/USD will emerge at the 1.0790\u20131.0800 region, portraying the 100-day EMA and the upper boundary of the descending trend channel. The&nbsp;next upside barrier&nbsp;is&nbsp;seen&nbsp;near a high of April 9 at 1.0885. The additional upside filter to watch is a high of March 21 at 1.0943, followed by March 8 at 1.0981, and&nbsp;finally&nbsp;the 1.1000 psychological level.<\/p>\n\n\n\n<p>On the downside, the first downside target&nbsp;is located&nbsp;near a low of May 9 at 1.0724.&nbsp;Extended losses for EUR\/USD expose the pair to a low of May 2 at 1.0650, en route to&nbsp;a low of April 16 at 1.0600.&nbsp;A break below this level will see a drop to the lower limit of the descending trend channel at 1.0500.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EUR\/USD daily chart<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><a href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_EUR_USD_2024-05-10_12-09-22-638509146541642758.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_EUR_USD_2024-05-10_12-09-22-638509146541642758.png\" alt=\"\"\/><\/a><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\">EUR\/USD<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th colspan=\"2\">OVERVIEW<\/th><\/tr><\/thead><tbody><tr><td>Today last price<\/td><td>1.0774<\/td><\/tr><tr><td>Today Daily Change<\/td><td>-0.0008<\/td><\/tr><tr><td>Today Daily Change %<\/td><td>-0.07<\/td><\/tr><tr><td>Today daily open<\/td><td>1.0782<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th colspan=\"2\">TRENDS<\/th><\/tr><\/thead><tbody><tr><td>Daily SMA20<\/td><td>1.0699<\/td><\/tr><tr><td>Daily SMA50<\/td><td>1.079<\/td><\/tr><tr><td>Daily SMA100<\/td><td>1.0833<\/td><\/tr><tr><td>Daily SMA200<\/td><td>1.0794<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th colspan=\"2\">LEVELS<\/th><\/tr><\/thead><tbody><tr><td>Previous Daily High<\/td><td>1.0784<\/td><\/tr><tr><td>Previous Daily Low<\/td><td>1.0724<\/td><\/tr><tr><td>Previous Weekly High<\/td><td>1.0812<\/td><\/tr><tr><td>Previous Weekly Low<\/td><td>1.065<\/td><\/tr><tr><td>Previous Monthly High<\/td><td>1.0885<\/td><\/tr><tr><td>Previous Monthly Low<\/td><td>1.0601<\/td><\/tr><tr><td>Daily Fibonacci 38.2%<\/td><td>1.0761<\/td><\/tr><tr><td>Daily Fibonacci 61.8%<\/td><td>1.0747<\/td><\/tr><tr><td>Daily Pivot Point S1<\/td><td>1.0742<\/td><\/tr><tr><td>Daily Pivot Point S2<\/td><td>1.0703<\/td><\/tr><tr><td>Daily Pivot Point S3<\/td><td>1.0682<\/td><\/tr><tr><td>Daily Pivot Point R1<\/td><td>1.0803<\/td><\/tr><tr><td>Daily Pivot Point R2<\/td><td>1.0824<\/td><\/tr><tr><td>Daily Pivot Point R3<\/td><td>1.0864<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The EUR\/USD pair&nbsp;trades on a softer note near 1.0775 during the early European hours on Friday. The downtick of the&nbsp;major&nbsp;pair&nbsp;is supported&nbsp;by the renewed US Dollar (USD) demand amid hawkish comments from Federal Reserve (Fed) officials. Later on Friday, the US Michigan Consumer Sentiment Index for May will&nbsp;be released,&nbsp;which&nbsp;is&nbsp;projected&nbsp;to drop from 77.2 in April to 76.0 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-news"],"_links":{"self":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1603"}],"collection":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1603"}],"version-history":[{"count":1,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1603\/revisions"}],"predecessor-version":[{"id":1605,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1603\/revisions\/1605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/media\/1604"}],"wp:attachment":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}