EUR/USD Technical Analysis: Bulls take a breather near descending trend-line hurdle ahead of Euro-zone GDP
|• The pair continued gaining positive traction for the fifth straight session on Thursday and is now looking to build on the momentum further beyond the key 1.1500 psychological mark.
• The fact that the pair has found acceptance above 100-day SMA support prospects for further up-move, though slightly overbought conditions on the 4-hourly chart seemed to cap gains.
• The ongoing bullish trajectory over the past one week or so paused near a resistance marked by a descending trend-line, extending from Sept. 2018 swing high through tops set earlier this month.
• Meanwhile, technical indicators on the daily chart have just started gaining traction and add credence to the constructive set-up ahead of the flash Euro-zone Q3 GDP growth figures.
EUR/USD daily chart
EUR/USD
Overview:
Today Last Price: 1.1504
Today Daily change %: 0.20%
Today Daily Open: 1.1481
Trends:
Daily SMA20: 1.1422
Daily SMA50: 1.1393
Daily SMA100: 1.1446
Daily SMA200: 1.1568
Levels:
Previous Daily High: 1.1502
Previous Daily Low: 1.1406
Previous Weekly High: 1.1418
Previous Weekly Low: 1.1289
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Daily Fibonacci 38.2%: 1.1466
Daily Fibonacci 61.8%: 1.1443
Daily Pivot Point S1: 1.1424
Daily Pivot Point S2: 1.1367
Daily Pivot Point S3: 1.1327
Daily Pivot Point R1: 1.152
Daily Pivot Point R2: 1.156
Daily Pivot Point R3: 1.1617
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.