EUR/USD Technical Analysis: Bear trend ready to resume its course
|- EUR/USD has found resistance below the 1.1432 resistance and at the 50, 100 and 200-period simple moving average on the 15-minute chart suggesting that the correction might soon be coming to an end.
- Bears next objective is to reconquer to 2018 low at 1.1365 in order to drive the market towards 1.1300 figure and 1.1178 June 27, 2017 low.
- The main resistance is seen at 1.1432 and 1.1483 intraday swing high (August 10). A breakout above 1.1432 would invalidate the bearish scenario in the short-term.
EUR/USD 15-minute chart
EUR/USD daily chart
Spot rate: 1.1396
Relative change: -0.13%
High: 1.1430
Low: 1.1379
Trend: Bearish
Resistance 1 1.1432 supply/demand level
Resistance 2: 1.1483 intraday swing high (August 10)
Resistance 3: 1.1508 June 8 low
Resistance 4: 1.1527 June 28 low
Resistance 5: 1.1571-1.1581 area, August 6 high and August 2 low
Resistance 6: 1.1600-1.1620 area, figure and July 27 low
Resistance 7: 1.1640-1.1649 area, key level and July 12 low
Resistance 8: 1.1672 June 27 high
Resistance 9: 1.1700 figure
Resistance 10: 1.1750 supply level
Resistance 11: 1.1760-1.1795 supply levels
Resistance 12: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1365-1.1370, 2018 low and July 13, 2017 low
Support 2: 1.1300 figure
Support 3: 1.1178 June 27, 2017 low
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.