DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 11 Oct 2018 00:51GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
1.1520
55 HR EMA
1.1507
Trend Hourly Chart
Near term up
Hourly Indicators
Rising
13 HR RSI
63
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
1.1629 - Sep 28 high
1.1594 - Last Wed's high
1.1550 - Last Fri's high
Support
1.1480 - Y'day's low
1.1460 - Mon's low
1.1432 - Tue's fresh 7-week low
EUR/USD - 1.1537.. Euro extended Tue's rally ahead of Asian open y'day n rose to 1.1515 in Asia due to intra-day gain in cable, price fell back to 1.1480 on Italian budget concerns b4 climbing to 1.1545 on usd's weakness in NY.
. On the bigger picture, despite euro's resumption of LT uptrend fm 2017 near 14-year bottom of 1.0341 to marginally higher abv Jan's 3-year peak of 1.25 38 to 1.2555 in mid-Feb, subsequent selloff to 1.1301 in Aug confirms said major rise has made a top there. Although euro's rally to a 3-1/2 month high of 1.1815 in Sep signals temp. low has been made, subsequent decline to as low as 1.1432 y'day suggests correction fm 1.1301 has possibly ended, a daily close below 1.14 52 would yield weakness twd 1.1301 later in Oct, 'bullish convergences' on the daily indicators should keep price abv 1.1187. On the upside, only abv res at 1.1629 suggests temporary low is made n risks stronger retacement twd 1.1720.
. Today, although euro's expected resumption of near term upmove fm 1.1432 to 1.1545 suggests recent decline has made a temp. low, as oscillators' readings would be in o/bot territory on next rise, reckon upside would falter below res at 1.1594 n yield subsequent retreat. Below 1.1500 signals top, 1.1480, 1.1460.
-636748412760936095.png)
Interested in EURUSD technicals? Check out the key levels
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.
Recommended Content
Editors’ Picks
EUR/USD holds gains near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold price defends gains below $2,400 as geopolitical risks linger
Gold price is trading below $2,400 in European trading on Friday, holding its retreat from a fresh five-day high of $2,418. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row, supported by lingering Middle East geopolitical risks.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.