EUR/USD Price Analysis: Teases inverse head-and-shoulders on 30-minute chart

  • EUR/USD stays mildly positive above 200-bar SMA.
  • Sustained trading beyond the key SMA favor buyers to confirm the bullish chart pattern.
  • Fresh selling may wait for a clear downside break below 1.1600.

EUR/USD eases to 1.1675, up 0.10% on a day, during Tuesday’s Asian session. In doing so, the major currency pair steps back from the neckline of a short-term head-and-shoulders bullish chart pattern. However, successful trading beyond 200-bar SMA, amid an absence of overbought RSI, keeps the buyers hopeful.

Hence, fresh buying will take place on a clear break above 1.1680, which in turn will target 1.1750 theoretical aim with the September 23 top, near 1.1720, likely acting as an intermediate halt.

In a case where EUR/USD prices remain strong past-1.1750, the 1.1800 threshold and September 21 top surrounding 1.1870/75 will be in the spotlight.

Alternatively, the pair’s downside below the 200-bar SMA level of 1.1660 may recall 1.1640 and 1.1610 immediate supports on the chart.

Though, EUR/USD bears’ dominance past-1.1610 will need validation from 1.1600 to attack March 2020 top close to 1.1500.

EUR/USD 30-minute chart

Trend: Bullish

Additional important levels

Today last price 1.1677
Today Daily Change 13 pips
Today Daily Change % 0.11%
Today daily open 1.1664
Daily SMA20 1.1792
Daily SMA50 1.179
Daily SMA100 1.1488
Daily SMA200 1.1239
Previous Daily High 1.168
Previous Daily Low 1.1615
Previous Weekly High 1.1872
Previous Weekly Low 1.1612
Previous Monthly High 1.1966
Previous Monthly Low 1.1696
Daily Fibonacci 38.2% 1.1655
Daily Fibonacci 61.8% 1.164
Daily Pivot Point S1 1.1626
Daily Pivot Point S2 1.1588
Daily Pivot Point S3 1.1561
Daily Pivot Point R1 1.1691
Daily Pivot Point R2 1.1718
Daily Pivot Point R3 1.1756



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

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.


GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.


XAU/USD pares early gains, turns flat near $1,900

For the third straight trading day on Tuesday, the XAU/USD pair is moving sideways above $1,900 as participants wait for the next significant catalyst. After climbing to a daily high of $1,910 earlier in the day, the pair lost its traction and was last seen trading virtually unchanged on the day at $1,902.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News