fxsoriginal DAILY EUR/USD TECHNICAL OUTLOOK

Trend Daily Chart
Up

Daily Indicators
Rising

21 HR EMA
1.1766

55 HR EMA
1.1741

 

Trend Hourly Chart

Sideways

Hourly Indicators
Bearish divergences

13 HR RSI
58

14 HR DMI
+ve

 

Daily Analysis

One more rise b4 down

Resistance
1.1861 - 80.9% proj. of 1.1582-1.1781 fm 1.1700
1.1815 - 2018 Sep high
1.1806 - Y'day's fresh 22-month peak

Support
1.1755 - Y'day's hourly sup
1.1719 - Y'day's low
1.1700 - Tue's low

EUR/USD - 1.1778.. Euro met renewed buying y'day at 1.1715 (AUS) n gained to 1.1769 in Europe b4 retreating to 1.1719. The pair then rallied to fresh 22- month peak at 1.1806 on usd's weakness in post-FOMC b4 easing.

On the bigger picture, despite euro's LT upmove fm 2017 near 14-year low of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb 2018, price tumbled to a near 3-year 1.0637 low on broad-based usd's strength. Having said that, euro's rally this month due to risk-on trade n then break of Mar's 1.1494 high signals said decline has ended n present rising daily indicators suggest upside bias remains for further headway twd 1.1822 (61.8% r of 1.2555-1.0637), however, minor 'bearish divergences' would prevent strg gain n risk has increased for a correction to take place in late Aug/Sep. On the downside, below 1.1422 anytime signals top is made n may head back twd 1.1000/10.

Today, as euro's break of Mon's 1.1781 top to 1.1806 signals MT uptrend would head twd 1.1820/30 after consolidation, 'bearish divergences' on hourly indicators should cap price below 1.1848 n yield correction. Only daily close below 1.1683 risks stronger retracement to 1.1658 b4 prospect of recovery.

EURUSD

 

Interested in EUR/USD technicals? Check out the key levels

    1. R3 1.192
    2. R2 1.1863
    3. R1 1.1827
  1. PP 1.1771
    1. S1 1.1734
    2. S2 1.1678
    3. S3 1.1642

 

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