EUR/USD Price Analysis: Hovers near 1.11, potential bull flag on intraday chart

EUR/USD is forming a bull flag on the 15-minute chart.
A move above 1.1140 is needed to confirm a breakout.

Omkar Godbole FXStreet Contributor

EUR/USD is struggling to keep gains above 1.11 in Asia with the US dollar attracting haven bids amid increasing coronavirus fears in the US and across Europe.

So far in Asia, the pair has lacked a clear directional bias and has traded in both directions to hit a high and low of 1.1145 and 1.1089.

The rally from the March 23 low of 1.0636 would resume if the spot takes out resistance near 1.1140, confirming a bull flag on the 15-minute chart. A flag breakout is a continuation pattern, which usually accelerates the preceding upward move.

However, if the flag ends with a downside break, a bearish reversal would be confirmed and could bring a deeper decline toward1.10.

15-minute chart

Trend: Bullish

Technical levels

EUR/USD

Overview
Today last price	1.11
Today Daily Change	-0.0030
Today Daily Change %	-0.27
Today daily open	1.114

Trends
Daily SMA20	1.1066
Daily SMA50	1.1
Daily SMA100	1.1049
Daily SMA200	1.1082

Levels
Previous Daily High	1.1147
Previous Daily Low	1.0953
Previous Weekly High	1.1147
Previous Weekly Low	1.0636
Previous Monthly High	1.1089
Previous Monthly Low	1.0778
Daily Fibonacci 38.2%	1.1073
Daily Fibonacci 61.8%	1.1027
Daily Pivot Point S1	1.1013
Daily Pivot Point S2	1.0886
Daily Pivot Point S3	1.082
Daily Pivot Point R1	1.1207
Daily Pivot Point R2	1.1274
Daily Pivot Point R3	1.1401

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.