Daily Technical and Trading Outlook - EUR/USD
|
Last Update At 20 Jun 2017 00:18GMT
Trend Daily Chart
Sideways
Daily Indicators
Bearish divergences
21 HR EMA
1.1165
55 HR EMA
1.1176
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
33
14 HR DMI
-ve
Daily Analysis
Resumption of recent decline
Resistance
1.1229 - Last Thur's high
1.1213 - Y'day's high
1.118 - Y'day's Euroepan low (now res)
Support
1.1333 - Last Thur's low
1.1110 - May 30 low
1.1076 - May 18 low
-
EUR/USD - 1.1146.. Euro rose to 1.1212 (NZ) Mon following Parliamentary election win by France's Macron n then retreated to 1.1183 In Europe. Euro later hit a high of 10113 b4 tumbling to 1.1144 in NY on Fed Dudley's hawkish remarks.
-
On the bigger picture, euro's rally previous 1.1024 res to a 6-month top at 1.1268 in May confirms the 3-legged rise fm Jan's near 14-year low at 1.0341 has once again resumed. Despite climbing to a near 7-month peak of 1.1285 in May , then last week's 7-month peak of 1.1296, subsequent post-FOMC fall to 1.1133 (Thur) suggests temporary high has been made as this level was accompanied by 'bearish divergences' on the daily indicators. Below 1.1133 would bring stronger retrace. to 1.1068 (50% r of 1.0840), however, 1.1024 (prev. res, now sup) would contain weakness. On the upside, only abv 1.1296 would extend marginal gain but 'bearish divergences' on daily indicators should cap price at 1.1366.
-
Today, euro's intra-day fall fm 1.1213 to 1.1144 y'day, then intra-day brief break of this lvl suggests correction fm last Thur's 2-week low at 1.1133 has ended would extend decline fm 1.1296 to 1.1110, however, 'bullish convergences' on the hourly indicators would keep price abv 1.1176 today.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.