DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 11 Feb 2016 00:23GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.1267
55 HR EMA
1.1245
Trend Hourly Chart
Up
Hourly Indicators
Neutral
13 HR RSI
56
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more rise
Resistance
1.1387 - 2015 Oct 20 high
1.1338 - Tue's fresh 3-1/2 month high
1.1312 - Y'day's high
Support
1.1250 - Last Fri's high (now sup)
1.1214 - 61.8% r of 1.1161-1.1299
1.1161 - Y'day's low
. EUR/USD - 1.1284.. Euro went through a roller-coaster ride in Wed's ses sion. Pirce ratcheted lower fm 1.1312 to 1.1222 in NY morning, despite tanking to 1.111 after release of Fed Yellen's text, price rallied to 1.1299 later.
. Looking at the daily chart, last Wed's biggest usd's one-day drop in 7 years helped euro to stage an impressive rally abv 2015 Dec's peak at 1.1060 to as high as 1.1145, then to 1.1338 Mon confirms MT uptrend fm Dec's 7-1/2 month bottom at 1.0523 has finally resumed after a 1-1/2 month long volatile sideways swings n price is en route to next chart obj. 1.1387 (2015 Oct 20 high), a daily close abv this level would bode well for euro to yield further headway to 1.1495 later this month. Having said, y'day's break of 1.1260 to 1.1161 suggests temp. top is made n consolidation is seen, as long 1.1161 sup holds, bullishnes remains n only a daily close below said sup risks correction twd 1.1086.
. Today, euro's intra-day rally fm 1.1161 to 1.1299 suggests pullback fm 1.1338 has ended n consolidation with upside bias is seen, abv said res would extend marginal gain, 'bearish divergences' on hourly indicators should cap price below res at 1.1387. Only below 1.1200 risks re-test of 1.1161, 1.1110/20.
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