EUR/USD Price Analysis: The pair still looks set to hit its highest level since March

EUR/USD trades 0.13% higher on Monday at 1.1442.
The March 2020 high is just under 1.15 and the bulls look set to try and hit it.

Rajan Dhall, MSTA FX Daily

EUR/USD daily chart

The uptrend has resumed today as EUR/USD trades positive on Monday but only just. Since hitting a low of 1.0636 in March 2020 the price has been on a tremendous uptrend hitting a high of 1.1467 today. Within that period there has been some consolidation points and only recently has the price broken to the upside past the 1.1422 previous wave high.

Looking closer are more recent price action, it seems that the bulls have not given up just yet. The market is still making higher high and higher low waves but the next resistance looks like a big one. The next resistance zone is at the yearly high of 1.1496 and the last time the price traded above that point was in January 2019. If the price does fall back there are some good support zones too. 1.1330 is the mean value of the last distribution area and it has been firm and beyond that, the consolidation low of 1.1175 could also be strong.

The MACD is still looking positive with the histogram still in the green. The signal lines are still above the zero point and with blue above red remain positive. The Relative Strenght Index is bullish above the 50 level but the previous wave is higher than this one at the moment. This means there is a potential bearish divergence forming but only time will tell how far this current price wave will take the indicator.

Additional levels

EUR/USD

Overview
Today last price	1.144
Today Daily Change	0.0012
Today Daily Change %	0.11
Today daily open	1.1428

Trends
Daily SMA20	1.1297
Daily SMA50	1.1174
Daily SMA100	1.1065
Daily SMA200	1.1061

Levels
Previous Daily High	1.1444
Previous Daily Low	1.1377
Previous Weekly High	1.1452
Previous Weekly Low	1.13
Previous Monthly High	1.1422
Previous Monthly Low	1.1097
Daily Fibonacci 38.2%	1.1418
Daily Fibonacci 61.8%	1.1403
Daily Pivot Point S1	1.1389
Daily Pivot Point S2	1.135
Daily Pivot Point S3	1.1322
Daily Pivot Point R1	1.1456
Daily Pivot Point R2	1.1483
Daily Pivot Point R3	1.1522

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

EUR/USD faces some resistance near 100-SMA on H4, around 1.1830 zone

The EUR/USD pair gains some follow-through positive traction for the second consecutive day and climbs to the 1.1830 region during the Asian session on Thursday. The US Dollar remains on the back foot amid concerns about the economic fallout from US President Donald Trump's erratic trade policies and acts as a tailwind for spot prices.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold struggle with $5,200 extends ahead of more US-Iran talks

Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.

Top Crypto Gainers: Polkadot, Near Protocol, Uniswap lead market rebound

Altcoins, such as Polkadot, Near Protocol, and Uniswap, are leading gains over the last 24 hours as Bitcoin jumped 6% on Wednesday. The altcoins are holding steady at press time on Thursday following a rebound the previous day, testing the waters around their 50-day Exponential Moving Average.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.