- EUR/USD's daily chart shows signs of uptrend fatigue.
- A pullback to short-term SMA support could be seen.
EUR/USD is trading near 1.2150 in Asia, representing a more than 1.5% gain for the week.
While the pair ticked higher for the third straight day on Thursday, it created a candle with a long upper wick – a sign of uptrend fatigue – validating the above-70 or overbought signal on the 14-day Relative Strength Index.
As such, a pullback to the ascending 5- day Simple Moving Average (SMA), currently located at 1.2078, could be in the offing. A violation there would expose the 10-day SMA at 1.991. A close below 1.20 would weaken the immediate bullish case.
On the higher side, resistance is seen at 1.2175 (Thursday's high) and 1.22 (psychological level).
Trend: Pullback likely
|Today last price||1.215|
|Today Daily Change||0.0004|
|Today Daily Change %||0.03|
|Today daily open||1.2146|
|Previous Daily High||1.2175|
|Previous Daily Low||1.2101|
|Previous Weekly High||1.1963|
|Previous Weekly Low||1.18|
|Previous Monthly High||1.2003|
|Previous Monthly Low||1.1603|
|Daily Fibonacci 38.2%||1.2147|
|Daily Fibonacci 61.8%||1.2129|
|Daily Pivot Point S1||1.2106|
|Daily Pivot Point S2||1.2067|
|Daily Pivot Point S3||1.2033|
|Daily Pivot Point R1||1.218|
|Daily Pivot Point R2||1.2214|
|Daily Pivot Point R3||1.2253|
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.