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EUR/USD Price Analysis: Sustained gains seen above 1.0390

  • EUR/USD extends the upside momentum and retests 1.0350.
  • Extra gains await on a break above 1.0390.

EUR/USD adds to the weekly rebound and revisits the 1.0350 region on Thursday.

The continuation of the ongoing upside looks favoured in the short term. Immediately to the upside emerges the August high at 1.0368 (August 10), an area coincident with the 55-day SMA.

The breakout of the latter should pave the way for a challenge of the 6-month resistance line around 1.0390. If the pair clears the latter, it could then accelerate the upside to, initially, the 100-day SMA at 1.0530.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0901.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0347
Today Daily Change76
Today Daily Change %0.46
Today daily open1.03
 
Trends
Daily SMA201.0188
Daily SMA501.0346
Daily SMA1001.0539
Daily SMA2001.0909
 
Levels
Previous Daily High1.0369
Previous Daily Low1.0202
Previous Weekly High1.0294
Previous Weekly Low1.0123
Previous Monthly High1.0486
Previous Monthly Low0.9952
Daily Fibonacci 38.2%1.0305
Daily Fibonacci 61.8%1.0266
Daily Pivot Point S11.0212
Daily Pivot Point S21.0124
Daily Pivot Point S31.0045
Daily Pivot Point R11.0378
Daily Pivot Point R21.0457
Daily Pivot Point R31.0545

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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