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

 

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

AUD/USD weaker ahead of RBA’s monetary policy decision

The Aussie is weak, despite receding dollar’s demand and the robust performance of US indexes. Coronavirus developments hit the commodity-linked currency ahead of the RBA.

AUD/USD News

Gold: This just might be as good as it gets for gold

The price of gold is trading at $1,975 within a range of between $1,960.54 and $1,986.76 at the time of writing, virtually flat on the day in consolidation having eeked out a fresh all-time high.

Gold News

USD/JPY struggling to retain the 106.00 level

The USD/JPY pair traded as high as 106.46 on Monday but struggles to retain gains above the 106.00 level amid lack of dollar’s demand.

USD/JPY News

Ethereum on its way to regaining $400 while BNB hit a new high at $22.5

BTC/USD is more stable than other coins right now but has been able to recover from its crash towards $10,500. It is currently trading at $11,369 and faces very little resistance until $14,000.

Read more

WTI drops below $40 on demand worries, OPEC+ output increase

Crude oil prices posted losses last week and seem to be struggling to shake off the bearish pressure on Monday. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $39.85, losing 1.5% on a daily basis.

Oil News

Forex Majors

Cryptocurrencies

Signatures