- EUR/USD is pressing into key trendline hurdle on the 4-hour chart.
- Indicators and daily candles are reporting early signs of bullish reversal.
EUR/USD is currently trading at 1.1029, having hit a high of 1.1040 in the overnight trade.
The 4-hour chart shows the bounce from the weekly low of 1.0992 has stalled at the trendline sloping downwards from Jan. 16 and Jan. 23 highs.
A break above the trendline hurdle would validate the bullish divergence of the relative strength index and open the doors to 1.1080.
The possibility cannot be ruled out, as the daily candlesticks are beginning to paint a bullish picture. The pair eked out 0.20% gains on Thursday and closed above Wednesday’s high of 1.1028, confirming the seller exhaustion at 1.10 signaled by consecutive long-tailed daily candles.
The outlook would turn bearish if the spot finds acceptance under 1.10.
|Today last price||1.1029|
|Today Daily Change||-0.0003|
|Today Daily Change %||-0.03|
|Today daily open||1.1032|
|Previous Daily High||1.1039|
|Previous Daily Low||1.1002|
|Previous Weekly High||1.1118|
|Previous Weekly Low||1.102|
|Previous Monthly High||1.124|
|Previous Monthly Low||1.1002|
|Daily Fibonacci 38.2%||1.1025|
|Daily Fibonacci 61.8%||1.1016|
|Daily Pivot Point S1||1.101|
|Daily Pivot Point S2||1.0987|
|Daily Pivot Point S3||1.0973|
|Daily Pivot Point R1||1.1047|
|Daily Pivot Point R2||1.1061|
|Daily Pivot Point R3||1.1084|
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