EURUSD – Euro In a Solid Uptrend Vs US Dollar

Aayush Jindal TitanFX

Key Highlights

The Euro made a nice upside move against the US Dollar due to positive sentiment.
The EUR/USD pair has settled above a major resistance area at 1.1280 on the 4 hours chart.

EURUSD Technical Analysis

The Euro climbed higher and broke a crucial resistance at 1.1280 vs the US Dollar. The EUR/USD pair is currently trading above 1.1400 and looks set for more gains.

This past week was eventful for EUR/USD, as the pair managed to gain strength and broke a few resistances like 1.1240 and 1.1280.

It called for a sharp rally and the pair rose to a new monthly high of 1.1444. The pair is currently consolidating gains and trading above the 1.1400 handle.

There is a contracting triangle pattern with support at 1.1410 formed on the 4-hours chart. As long as the triangle support is intact, there are chances of more gains above 1.1440. On the downside, the next major support is at 1.1350, followed by the 1.1280 barrier.

Interested in EURUSD technicals? Check out the key levels

1. R3 1.1438
2. R2 1.1433
3. R1 1.1427
PP 1.1422
1. S1 1.1416
2. S2 1.1411
3. S3 1.1405

Author

Aayush Jindal

TitanFX

I have spent over six years as a financial markets contributor and observer, and possess strong technical analytical skills. I am a software engineer by profession, loves blogging and observing financial markets.

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