EUR/USD Price Analysis: Further upside past 1.1800 hinges on bullish flag confirmation

  • EUR/USD remains sidelined inside a bullish chart pattern.
  • Sustained trading above 200-SMA, upbeat Momentum line keep buyers hopeful.
  • 50-SMA adds strength to the flag’s resistance line, sellers have bumpy road on their return.

EUR/USD edges higher around 1.1820, keeping the short-term bullish flag intact, during Thursday’s Asian session. In doing so, the major currency pair also stays above 200-SMA amid an upbeat Momentum line.

While the bulls are geared for further upside, the resistance line of the stated bullish formation joins 50-SMA to challenge the advances around 1.1830.

Even if the pair buyers manage to cross the 1.1830 hurdle, the monthly horizontal line and early September lows, respectively near 1.1845 and 1.1855, will add to the upside filters.

On the contrary, 200-SMA restricts the pair’s immediate declines, around 1.1790, ahead of 50% and 61.8% Fibonacci retracement levels of August 20 to September 03 rise, near 1.1785 and 1.1755 in that order. Also challenging the bears is the support line of the stated flag close to 1.1750.

Hence, EUR/USD bulls have a tough task ahead but the sellers may not succeed in taking back the controls, suggesting a gradual grind to the north.

EUR/USD: Four-hour chart

Trend: Further upside expected

Additional important levels

Today last price 1.1818
Today Daily Change 0.0015
Today Daily Change % 0.13%
Today daily open 1.1803
Daily SMA20 1.1794
Daily SMA50 1.18
Daily SMA100 1.1936
Daily SMA200 1.1996
Previous Daily High 1.1846
Previous Daily Low 1.18
Previous Weekly High 1.1886
Previous Weekly Low 1.1802
Previous Monthly High 1.19
Previous Monthly Low 1.1664
Daily Fibonacci 38.2% 1.1818
Daily Fibonacci 61.8% 1.1828
Daily Pivot Point S1 1.1787
Daily Pivot Point S2 1.1771
Daily Pivot Point S3 1.1741
Daily Pivot Point R1 1.1833
Daily Pivot Point R2 1.1862
Daily Pivot Point R3 1.1878



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

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD slides under 1.16 as US Retail Sales smash estimates

EUR/USD is trading under 1.16 after US Retail Sales smashed estimates with 0.7% in September. Treasury yields are rising. The risk-on mood continues to underpin the pair, as the ECB policymaker Wunsch dismisses inflation concerns. 


GBP/USD retreats below 1.3750 after US data

GBP/USD has pared some of its gains after US Retail Sales beat estimates, with the core group hitting 0.8% last month. Earlier, investors shrugged off dovish comments from two BOE members. 


XAU/USD slumps to $1,770 area on upbeat US data, surging US bond yields

Gold started the last day of the week on the back foot and extended its slide to a fresh daily low of $1,770 in the early trading hours of the American session pressured by the dollar's resilience and surging US Treasury bond yields.

Gold News

Crypto bulls on winning streak pushing for more

Bitcoin price favors bulls reaching $60,000 by the end of this week and onwards to new all-time highs by the end of next week. Ethereum price broke a bearish top line and could hit new all-time highs by next week in tandem with Bitcoin. 

Read more

Why is Tesla going up?

Tesla's (TSLA) stock price has finally pushed higher in a series of steady and sure moves. We had nearly given up on our bullish call with Tesla stock as it kept struggling around the $800 level.

Read more