EUR/USD Price Analysis: Clings to 100-hour EMA amid bullish MACD


  • EUR/USD battles the upper end of recent trading range.
  • Bulls cheer upside break of one-week-old falling trend line amid upbeat MACD.
  • 200-hour EMA guards immediate upside, sellers may look for entries below previous resistance line.

EUR/USD picks up bids near 1.2208 during Wednesday’s Asian session. In doing so, the quote keeps the recent choppy trading between the 1.2200 and 1.2210 levels after crossing a downward sloping trend line from last Thursday.

Although 100-hour EMA clutches the EUR/USD buyers, a sustained break of short-term resistance line, now support, joins bullish MACD signals to attack 200-hour EMA level of 1.2225.

If at all the bulls cross the key EMA, last Friday’s top surrounding 1.2285 and the 1.2300 threshold should gain the market’s attention.

Alternatively, a downside break of the previous resistance line, at 1.2194 now, will direct the EUR/USD sellers toward the monthly low near 1.2130.

However, any further weakness past-1.2130 will not hesitate to challenge the December 09 low of 1.2058 that holds the key to the pair’s extra downside eyeing September’s top close to 1.2010.

Overall, the EUR/USD bulls are catching a breather and are less likely to be considered fail unless the quote drops below the September top.

EUR/USD hourly chart

Trend: Bullish

Additional important levels

Overview
Today last price 1.2207
Today Daily Change 53 pips
Today Daily Change % 0.44%
Today daily open 1.2154
 
Trends
Daily SMA20 1.2225
Daily SMA50 1.2052
Daily SMA100 1.1917
Daily SMA200 1.1586
 
Levels
Previous Daily High 1.2227
Previous Daily Low 1.2132
Previous Weekly High 1.235
Previous Weekly Low 1.2193
Previous Monthly High 1.231
Previous Monthly Low 1.1924
Daily Fibonacci 38.2% 1.2169
Daily Fibonacci 61.8% 1.2191
Daily Pivot Point S1 1.2115
Daily Pivot Point S2 1.2076
Daily Pivot Point S3 1.202
Daily Pivot Point R1 1.221
Daily Pivot Point R2 1.2266
Daily Pivot Point R3 1.2305

 

 

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