EUR/USD Price Analysis: Euro prints fresh 7-day’s highs, challenges 1.1100 figure and 200 DMA


  • EUR/USD retracement up challenges the 1.1106 resistance and the 200 SMA on the daily chart.
  • The next levels of resistance are seen near 1.1163 and 1.1240. 
 

EUR/USD daily chart 

 
EUR/USD is bouncing sharply from the 2020 lows as the spot is on track to have a daily close above the 1.1100 figure and the 200 DMA (daily simple moving average). The market retraced up more than 50% of its last decline. 
 

EUR/USD four-hour chart

 
The bullish pressure remains unabated into the end of the week. The spot is looking to break above the 1.1106 resistance en route towards 1.1163 and potentially 1.1240 if the market gathers enough steam. Support is seen near the 1.1065, 1.1014 and 1.0968 price levels, according to the Technical Confluences Indicator.
 
 
Resistance: 1.1106, 1.1163, 1.1240
Support: 1.1065, 1.1014, 1.0968
 
 

Additional key levels

EUR/USD

Overview
Today last price 1.11
Today Daily Change 0.0069
Today Daily Change % 0.63
Today daily open 1.1031
 
Trends
Daily SMA20 1.1061
Daily SMA50 1.0999
Daily SMA100 1.1048
Daily SMA200 1.1083
 
Levels
Previous Daily High 1.1059
Previous Daily Low 1.087
Previous Weekly High 1.1237
Previous Weekly Low 1.0638
Previous Monthly High 1.1089
Previous Monthly Low 1.0778
Daily Fibonacci 38.2% 1.0987
Daily Fibonacci 61.8% 1.0942
Daily Pivot Point S1 1.0915
Daily Pivot Point S2 1.0798
Daily Pivot Point S3 1.0726
Daily Pivot Point R1 1.1103
Daily Pivot Point R2 1.1175
Daily Pivot Point R3 1.1291

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD extends sideways grind around 1.1650 after mixed US data

EUR/USD is struggling to find direction on Thursday and continues to fluctuate in a relatively tight range around mid-1.1600s. Mixed data releases from the US don't seem to be having a noticeable impact on the greenback's performance against its major rivals.

EUR/USD News

GBP/USD struggles to pull away from 1.3800

GBP/USD retraced a portion of Wednesday's during the European trading hours pressured by the renewed USD strength and the souring market mood. With the latest US data failing to trigger a reaction, the pair stays in a consolidation phase near 1.3800.

GBP/USD News

XAU/USD struggles for direction, flat-lined above $1,780 level

The risk-off impulse in the markets extended some support to the safe-haven gold. Elevated US bond yields, a modest USD strength capped the upside for the metal. Bulls need to wait for a move beyond the $1,800 mark before placing fresh bets.

Gold News

Buying Solana now to gain 700% profits by 2022

Solana price has been on a massive run-up in 2021 from $1 to $216 in roughly eight months. This stellar climb is likely to continue into 2022 as significant bullish signs emerge. Moreover, the start of a new bull run will serve as a tailwind for SOL.

Read more

Netflix: Three reasons to sell NFLX after earnings

NFLX has been strong into earnings as investors digested the massive success of Squid Game and hoped this would feed through into very strong subscriber numbers. Netflix was out straight after the bell with earnings.

Read more

Forex MAJORS

Cryptocurrencies

Signatures