fxsoriginal  Daily EUR/USD technical outlook

Last Update At 02 Jun 2021 00:40GMT

Trend daily chart

Up

Daily Indicators

Bearish divergences

21 HR EMA

1.2224

55 HR EMA

1.2218

Trend hourly chart

Sideways

Hourly Indicators

Falling

13 HR RSI

49

14 HR DMI

0

Daily analysis

Consolidation with downside bias

Resistance

1.2290 - 50% proj. of 1.1705-1.2182 fm 1.2052
1.2266 - Last Tue's fresh 4-1/2 month high
1.2254 - Tue's high

Support

1.2204 - Last Fri's high (now sup)
1.2184 - Mon's low
1.2133 - Last week's low (Fri)

EUR/USD - 1.2223.. Although euro swung in choppy fashion in Asia n European morning y'day n then briefly climbed to session highs of 1.2254 in NY, the pair fell to 1.2212 near NY close due to broad-based USD's rebound.

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, subsequent decline to a near 3-year 1.0637 low in Mar 2020 signals correction has ended. Despite an impressive upmove to a near 33-month 1.2349 peak in early Jan 2021, subsequent decline to 1.1705 (Mar) signals top is made. Having said that, euro's break of Apr's 1.2149 top to 1.2266 last Tue suggests pullback fm 1.2349 has ended n gain twd 1.2349 will be seen in Jun b4 correction. On the downside, below 1.2052 sup anytime indicates upmove fm 1.1705 is over n revives bearishness for a strong retracement of said move to 1.1987, then later twd 1.1868/73.

Today, euro's early strg rise fm 1.2133 (Fri) to 1.2254 y'day suggests pullback fm May's 1.2266 peak has ended, however, subsequent retreat signals choppy sideways swings would continue n present falling hourly indicators may pressure price to 1.2184, break, 1.2133. Abv 1.2254 risks 1.2266, 1.2285/90.

EURUSD

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.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD clings to recovery gains above 1.1350 after EU inflation data

EUR/USD gained traction and climbed to its highest level in more than 10 days above 1.1360 amid the broad-based selling pressure surrounding the greenback. The data from the euro area showed that the annual CPI jumped to 4.9% in November from 4.1% in October, helping the shared currency preserve its strength.

EUR/USD News

GBP/USD advances to mid-1.3300s on renewed dollar weakness

GBP/USD gathered bullish momentum during the European trading hours and climbed to 1.3350 area as the greenback remains under selling pressure amid slumping US Treasury bond yields. Investors await FOMC Chairman Powell's testimony.

GBP/USD News

Gold eyes $1,800 and $1,806 on road to recovery

The precious metal has staged a decent comeback, as bulls look to recapture the $1,800 mark amid a revival of the Omicron covid variant fears. A flight to safety theme remains in vogue killing the demand for the yields.

Gold News

XRP price on edge of cliff as Ripple faces imminent collapse

XRP price followed the rest of the cryptocurrency market lower over the weekend. The US Thanksgiving holiday gave cryptocurrency traders and investors some early Black Friday deals, but downside risks remain.

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!

Majors

Cryptocurrencies

Signatures