DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 31 Mar 2016 00:01GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.1319
55 HR EMA
1.1377
Trend Hourly Chart
Up
Hourly Indicators
Turning down
13 HR RSI
67
14 HR DMI
+ve
Daily Analysis
Consolidation b4 one more rise
Resistance
1.1495 - 2015 Oct high (15th)
1.1405 - 50% proj. of 1.0821-1.1343 fm 1.1144
1.1377 - Feb's high (11th)
Support
1.1302 - Y'day's European low
1.1283 - Y'day's low (AUS)
1.1220 - Mon's high (now sup)
EUR/USD - 1.1335.. Euro met renewed buying at 1.1283 ahead of Asian open Wed n ratcheted higher to 1.1339 at NY open, despite a brief pullback to 1.1302 on upbeat U.S. ADP jobs report, price rose to a 1-month top of 1.1365 b4 easing.
. On at the daily picture, euro's 3-legged rise fm Mar's 1.0821 low to as to as high as 1.1343 in mid-Mar confirms correction fm Feb's 3-1/2 month peak at 1.1377 has ended, despite subsequent stronger-than-expected fall to 1.1144 last week, Tue's rally to 1.1303 on the back of Fed chair Yellen's dovish remarks n then to 1.1365 y'day suggests re-test 1.1377 would be forthcoming next,a break there would extend MT rise fm 1.0523 (Dec 2015 low) twd next chart obj. at 1.14 95 (2015 Oct high). On the downside, only a daily close below 1.0220 (Mon's top, now sup) would 'prolong' recent choppy consolidation n risk fall twd 1.1144.
_20160331064857.png "eur")
. Today, although euro's retreat fm Wed's 1-month peak at 1.1365 suggests initial consolidation is in store, as long as 1.1302 sup holds, brief break of 1.1377 res is envisaged to 1.1405 (50% proj. of 1.0821-1.1343 fm 1.1144), how- ever, 'bearish divergences' on hourly indicators should cap price well below 1.1467 (61.8% proj.). Only below 1.1383 dampens bullishness n may risk 1.1220.
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