EUR/USD Price Analysis: Euro bullish correction intact, trades near 1.0880 level after London close


  • EUR/USD bullish recovery from 34-month lows is intact.
  • The level to beat for buyers is the 1.0900/1.0920 resistance zone.

EUR/USD daily chart 

The euro is trading in a downtrend below its main daily simple moving averages (SMAs) as the quote is recovering from 34-month lows. The spot is stalling near the 2019 low at the 1.0879 level.
 

EUR/USD four-hour chart

EUR/USD broke below a descending channel in early February and is now bouncing from the 1.0800 figure. The bullish correction is intact. The spot is tested the 1.0900 resistance and now is hovering around the 100 SMA. Buyers should try to break the 1.0900/1.0920 resistance zone to target the 1.0970 level. Support is expected to hold near the 1.0868 and 1.0835 levels, according to the Technical Confluences Indicator.  
 
 
 
Resistance: 1.0900, 1.0920, 1.0985
Support: 1.0868, 1.0835, 1.0800
 

Additional key levels

EUR/USD

Overview
Today last price 1.0883
Today Daily Change 0.0001
Today Daily Change % 0.01
Today daily open 1.0882
 
Trends
Daily SMA20 1.0918
Daily SMA50 1.1039
Daily SMA100 1.1057
Daily SMA200 1.1103
 
Levels
Previous Daily High 1.089
Previous Daily Low 1.083
Previous Weekly High 1.0864
Previous Weekly Low 1.0778
Previous Monthly High 1.1225
Previous Monthly Low 1.0992
Daily Fibonacci 38.2% 1.0867
Daily Fibonacci 61.8% 1.0853
Daily Pivot Point S1 1.0845
Daily Pivot Point S2 1.0807
Daily Pivot Point S3 1.0784
Daily Pivot Point R1 1.0905
Daily Pivot Point R2 1.0928
Daily Pivot Point R3 1.0965

 

 

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