EUR/USD Price Analysis: Next on the upside aligns 1.1700


  • EUR/USD regains some composure following new lows near 1.1610.
  • The next key resistance is located in the 1.1700 neighbourhood.

After recording fresh 2-month lows near 1.1610 on Friday, EUR/USD has started the week on quite an optimistic mood and managed to re-take the mid-1.1600s on the back of some correction in the greenback.

While further pullbacks should not be ruled out just yet, the ongoing rebound needs to surpass the 1.1700 neighbourhood on a sustainable fashion to allow for extra gains and convince markets that the resumption of the bullish momentum is in the offing.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1236.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.1662
Today Daily Change 50
Today Daily Change % 0.26
Today daily open 1.1632
 
Trends
Daily SMA20 1.1806
Daily SMA50 1.1786
Daily SMA100 1.148
Daily SMA200 1.1236
 
Levels
Previous Daily High 1.1685
Previous Daily Low 1.1612
Previous Weekly High 1.1872
Previous Weekly Low 1.1612
Previous Monthly High 1.1966
Previous Monthly Low 1.1696
Daily Fibonacci 38.2% 1.164
Daily Fibonacci 61.8% 1.1657
Daily Pivot Point S1 1.1601
Daily Pivot Point S2 1.157
Daily Pivot Point S3 1.1528
Daily Pivot Point R1 1.1674
Daily Pivot Point R2 1.1716
Daily Pivot Point R3 1.1747

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD fuelled 0.2% by strong PMI Composite in early Asia

AUD is up on the day so far as early data gives the bulls a head start. Early Asia has been kind to Aussie bulls with the price of the currency extending its late New York gains with a robust Construction PMI report, solidly above the 50.0 expansion level, arriving at 54.2.

AUD/USD News

NZD/USD bullish bets above 0.6690 marked down by CPI miss

NZD/USD bulls have been stopped in their tracks by the miss in the CPI data. The US dollar found a lease of life on Wall Street, bulls encouraged by data. New Zealand's CPI was released in recent trade which has changed the bird's flight trajectory in early Asia.

NZD/USD News

XAU/USD’s reversal extends to $1,900 area

Gold’s upside attempt witnessed on Wednesday has been short-lived as the precious metal was unable to extend gains beyond $1.930 area. XAU/USD has given away gains on Thursday, with US dollar demand picking up amid a sourer market sentiment and upbeat US macroeconomic figures.

Gold News

Bitcoin rises to new yearly highs while the rest of the crypto market follows

Bulls are finally making a comeback into the market and regaining full control of the price across the board. According to the data by CoinMarketCap, a massive $22 billion has come into the market amid Bitcoin’s recovery beyond $13,000.

Read more

WTI bulls keep the fuell buring into Wall Street close

West Texas Intermediate crude oil is higher on the day, although has run into resistance and started to consolidate.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures