Daily Technical Outlook on Major - EUR/USD
|
Last Update At 15 May 2019 00:20GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
1.1215
55 HR EMA
1.1233
Trend Hourly Chart
Near term down
Hourly Indicators
Getting o/s
13 HR RSI
33
14 HR DMI
-v3
Daily Analysis
Consolidation with downside bias
Resistance
1.1304 - Apr 18 high
1.1265 - Mon's n May 01 high
1.1246 - Y'day's high (Reuters)
Support
1.1167 - Last Tue's low
1.1135 - May's low (May 03)
1.1112 - Apr 26 low
. EUR/USD - 1.1203.. Although euro recovered fm 1.1221 (AUS) to session highs of 1.1246 (Reuters) in Europe, price erased its gains n tumbled to 1.1204 1.1204 at NY open, then 1.1201 on usd's strength n Italy's budget concerns.
. On the bigger picture, despite euro's resumption of LT rise fm 2017 near 14-year bottom of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb, subsequent selloff to 1.1216 in Nov 2018, then to a 20-month bottom at 1.1177 in early March confirms said major uptrend has made a top there. Despite subsequent rally to 1.1448 in Mar, euro's fall to 1.1184, then early break of 1.1177 to 1.1112 Apr confirms MT fall fm 1.2555 has resumed n would head to 1.1054 (61.8% proj. of 1.1815-1.1177 measured fm 1.1448), 'bullish convergences' on daily indicators would keep price abv psychological 1.1000 level. On the upside, only abv 1.1265 signals temporary low is made n risks retracement to 1.1325, then 1.1448.
. Today, although euro's selloff after Mon's failure to break May's 1.1265 top signals near term rise fm 1.1135 has made a temp. top there n downside bias remains, as hourly oscillators would be in o/sold territory, reckon 1.1161/67 sup area would hold. Only abv 1.1265 extends early rise fm 1.1112 to 1.1190/00.
Interested in EURUSD technicals? Check out the key levels
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.