EUR/USD Price Analysis: Rising bets for a move to 1.2200… and above?


  • EUR/USD’s weekly upside lost momentum around 1.2180.
  • The vicinity of 1.2200 emerges as the next target of note.

EUR/USD now alternates gains with losses in the mid-1.2100s after another bullish attempt has so far faltered around 1.2180, or multi-day highs. In this area also converges a Fibo level (1.2173).

If the buying impulse gathers extra steam, then the weekly high at 1.2189 (January 22) should return to the radar in the near-term. The selling pressure is expected to mitigate on a breakout of the latter, therefore opening the door to a probable visit to the YTD highs in the 1.2350 zone.

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1764.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.2156
Today Daily Change 37
Today Daily Change % 0.03
Today daily open 1.2152
 
Trends
Daily SMA20 1.2093
Daily SMA50 1.2155
Daily SMA100 1.2011
Daily SMA200 1.1772
 
Levels
Previous Daily High 1.2169
Previous Daily Low 1.2091
Previous Weekly High 1.217
Previous Weekly Low 1.2023
Previous Monthly High 1.235
Previous Monthly Low 1.2054
Daily Fibonacci 38.2% 1.214
Daily Fibonacci 61.8% 1.2121
Daily Pivot Point S1 1.2105
Daily Pivot Point S2 1.2059
Daily Pivot Point S3 1.2027
Daily Pivot Point R1 1.2184
Daily Pivot Point R2 1.2216
Daily Pivot Point R3 1.2262

 

 

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