EUR/USD: Euro looks for support at 1.13430

Denis Joeli Fatiaki Independent Analyst

What is going on now with EUR/USD?

EUR/USD: The Euro maintained its position above 1.13810 as indicated in yesterdays update and took out two targets at 1.13960 and 1.14155 in the 60 minutes price chart before pulling back to 1.13810 during the European session.

The pair attempted to head back up at 1.13810 but failed and triggered a short sell opportunity which I highlighted in yesterdays update. The Euro took out three targets at 1.13610, 1.13430, and 1.13270 before heading back up to 1.13430 in this mornings session

Our forecast

EUR/USD: The Euro managed to bounce at 1.13270 in the 60 minutes price chart and is currently attempting to break through 1.13430 resistance. The pair needs to break and remain above 1.13430 to continue to its next target at 1.13610. The Euro could fall to 1.13270 if it fails at 1.13430

Support/short - 1.13270, 1.13065, and1.12950

Resistance/Long - 1.13430, 1.13610, and 1.13810

Chart 1: The short-term view of the EUR/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the EUR/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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