DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 20 Apr 2017 00:15GMT
Trend Daily Chart
21 HR EMA
55 HR EMA
Trend Hourly Chart
13 HR RSI
14 HR DMI
Consolidation b4 marginal rise
1.0829 - Feb high (02)
1.0779 - 61.8% r of 1.0907-1.0571
1.0737 - Y'day's fersh 2-week high
1.0701 - Y'day's low
1.0678 - Last week's high (now sup)
1.0635 - MOn's NY low
. EUR/USD - 1.0715.. Euro spent an uneventful day y'day following Tue's cable-led rally to a 2-week high of 1.0736. Price inched higher to 1.0737 in Europe n later retreated to 1.0701 in NY morning b4 moving narrowly.
. Looking at the daily chart, euro's rise fm Jan's near 14-year bottom of 1.0341 to 1.0829 in Feb signals recent downtrend has made a low there. Despite climbing to a 4-month top of 1.0907 in Mar, subsequent selloff to 1.0571 signals aforesaid rise fm 1.0341 has ended n consolidation is expected in Apr. Having said that, y'day's 'cable-led' rally abv 1.0702 res to 1.0736 suggests choppy consolidation with near term upside bias remains, abv 1.0779 (61.8% r of 1.0907- 1.0571) would bring stronger gain twd 1.0829 (Feb high) but a daily close abv there needed to abort bearish outlook n risk re-test of 1.0907. On the downside, below 1.0604 suggests correction fm 1.0571 over n yield re-test of this lvl.
. Today, despite euro's pullback frm 1.0737 to 1.0701 on Wed, as price is still trading abv the 55-hr ema, bullish bias remains for gain twd 1.0779, however, as hourly indicators would display 'bearish divergences' on next rise, 1.0800 should hold. Only below 1.0678 confirms top is made n risks 1.0635.
Interested in EURUSD technicals? Check out the key levels
- R3 1.0770
- R2 1.0754
- R1 1.0732
- PP 1.0716
- S1 1.0695
- S2 1.0679
- S3 1.0657
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