The Euro regained traction on Friday and recovered the most of Thursday’s 1.1337/1.1294 dip after four-day rally stalled at falling 30SMA.
Thursday’s close in red and failure to repeatedly close cracked Fibo barrier at 1.1326 (38.2% of 1.1569/1.1176) softened near-term structure, though bullish bias is expected to remain intact while 10SMA (1.1287) holds the downside.
However, risk of recovery stall and possible pullback would increase on another failure to clearly break 1.1326 barrier and repeated close below falling 30SMA (1.1322), as momentum is weak and stochastic in overbought territory.
EU benchmark CPI ticked higher in Feb, according to the expectations and supporting the pair, with a series of data from the US, due later today and news about Brexit, eyed for fresh signals.
Weekly close above 1.1326 Fibo barrier would generate bullish signal for extension of recovery leg from 1.1176 (2019 low) and expose barriers at 1.1365/72 (converged 55/100SMA’s / 50% of 1.1569/1.1176).
Conversely, close below 10SMA would be initial negative signal for deeper correction of 1.1176/1.1338 upleg.

Res: 1.1322; 1.1338; 1.1369; 1.1382
Sup: 1.1304; 1.1287; 1.1276; 1.1257



Interested in EURUSD technicals? Check out the key levels

    1. R3 1.1381
    2. R2 1.1362
    3. R1 1.1333
  1. PP 1.1313
    1. S1 1.1284
    2. S2 1.1265
    3. S3 1.1236


The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD: bearish strength pointing to lower lows for the year

The EUR/USD pair extended its decline Friday to finish the week sharply lower in the 1.1150 region. The American currency stood victorious on the back of persistent concerns about US-Sino trade tensions and encouraging local data.


GBP/USD: political tensions knocked the Pound ANALYSIS | 14:48 GMT

The GBP/USD pair closed the week in the 1.2710 area, its lowest since mid-January, as the Pound plunged alongside Brexit cross-party talks, a "very negative development," as Irish PM Varadkar said. 


USD/JPY: corrective advance could extend up to 110.50

After advancing for a second consecutive day, the USD/JPY pair closed the week with modest gains just above the 110.00 figure, retreating from a daily high of 110.19. 


Bitcoin price update: BTC reclaims $7,000, recovery stalled

Bitcoin (BTC) has recovered from a scary flash crash that took it all the way down from $7,800 to as low as $6,512. The first digital coin lost about 16% of its value in a matter of hour with no particular reason .

Read more

Gold breaks to the downside hits 2-week lows near $1275

Gold prices accelerated to the downside today and particularly after the beginning of the American session, resuming the bearish move. The yellow metal is falling for the fourth day in-a-row and it is down almost $30 from the weekly high. 

Gold News