EUR/USD Price Analysis: On the way to 1.1920 resistance confluence

  • EUR/USD edges higher around three-week top after four-day uptrend.
  • Sustained break of six-week-long resistance line, bullish MACD favor buyers.
  • Convergence of 200-day EMA, 61.8% Fibonacci retracement guards immediate upside.

EUR/USD bulls brace for breaking the immediate trading range surrounding 1.1900, also refresh the highest levels since July 06, during early Friday morning in Asia.

In doing so, the major currency pair stays positive for the fifth day in a row while keeping the previous day’s upside break of a descending trend line from June 17.

With the bullish MACD signals backing the resistance breakout, now support, EUR/USD buyers are on the way to battle joint of 200-day EMA and 61.8% Fibonacci retracement (Fibo.) of late March-May upside, near 1.1920.

However, a daily closing beyond 1.1920 could propel the quote’s north-run targeting the 1.1985 hurdle, comprising May’s low and 50% Fibo.

Meanwhile, pullback moves should stay beyond the previous resistance line near 1.1850 to reject short-term EUR/USD bears.

Following that, the monthly low and the yearly bottom, respectively around 1.1750 and 1.1700 will be in focus.

EUR/USD: Daily chart

Trend: Further upside expected

Additional important levels

Today last price 1.1887
Today Daily Change 0.0043
Today Daily Change % 0.36%
Today daily open 1.1844
Daily SMA20 1.1819
Daily SMA50 1.1979
Daily SMA100 1.1975
Daily SMA200 1.2008
Previous Daily High 1.185
Previous Daily Low 1.1772
Previous Weekly High 1.183
Previous Weekly Low 1.1752
Previous Monthly High 1.2254
Previous Monthly Low 1.1845
Daily Fibonacci 38.2% 1.182
Daily Fibonacci 61.8% 1.1802
Daily Pivot Point S1 1.1795
Daily Pivot Point S2 1.1745
Daily Pivot Point S3 1.1717
Daily Pivot Point R1 1.1872
Daily Pivot Point R2 1.1899
Daily Pivot Point R3 1.1949



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 tumbles below 1.17 as Fed sets clear taper timeline

EUR/USD has reversed course, plunging under 1.17 after the Fed signaled tapering of bond buys as soon as November, and the conclusion of the process in mid-2022. The hawkish surprise means a rate hike could come sooner. 


GBP/USD pares gains on Fed's hawkish shift

GBP/USD is trading under 1.3650, falling as the Fed signaled tapering could begin shortly and end in mid-2022. The prospects of US rate hike are boosting the dollar across the board. 


Gold: Fed's hawkish tone marred by risk-on sentiment

Fed leaves interest rates unchanged says moderation in asset purchases "may soon be warranted". Gold volatile on the FOMC statement and rallies into daily resistance. Risk-on tone persists surrounding Evergrande contagion prospects abating. 

Gold News

XRP price bound for another dip before 40% rebound

Ripple price came down 20% since the beginning of this week. With some upside today, bulls stand to face a bull trap that could get quite painful. A better entry point at $0.78 looks to be more promising for bulls.

Read more

Powell Quick Analysis: Three hawkish points propel dollar, NFP critical to cement tapering

Powell surprised by signaling taper announcement could come in November. Tapering may end by mid-2022, opening the door to earlier rate hikes. Powell's comment on employment goal "all but met" is a significant hawkish shift. 

Read more