Thursday's trading session did not introduce massive changes to the direction of EUR/USD. The pair tried to move past the 1.1840 mark but was nevertheless pressured lower by the 55-hour SMA.
As apparent on the chart, the Euro diminished its trading range against the US Dollar yesterday, thus being stranded between the aforementioned SMA and a short-term trend-line.
It is expected that the former is surpassed today, thus paving the way for further surge up to the 100– and 200-hour moving averages at 1.1770. Technical indicators on the 4H and 1D time-frames suggest that this appreciation should continue during the following week, as well.
In case the 55-hour SMA remains intact, the Euro is to target the 1.1740 area.
Interested in EURUSD technicals? Check out the key levels
- R3 1.1891
- R2 1.1864
- R1 1.1829
- PP 1.1803
- S1 1.1768
- S2 1.1741
- S3 1.1706
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