EUR/USD technical analysis: 1 hour chart looks like it could push higher

EUR/USD is trading 0.17% higher today at 1.1032.
The chart is showing signs it could break higher.

Rajan Dhall, MSTA FX Daily

EUR/USD 1 Hour Chart

On the hourly chart below the next resistance is at 1.1040.

The resistance higher up is the main one and that holds at 1.1072.

The reason why this one is more important is that on the higher timeframe it is the main wave the price had to make to make the lower low lower high formation.

Now currently on the 1-hour chart, the price is still making lower highs and lower lows but if 1.1041 brakes EUR/USD could break the pattern.

As with most trendline breaks if the move does happen then the trendline itself could be a support zone.

At the start of the week the USD strength as abated somewhat. At the end of last week the dollar was very strong and today the US markets are expected to be slower due to veterans day.

Additional levels

EUR/USD

Overview
Today last price	1.1034
Today Daily Change	0.0012
Today Daily Change %	0.11
Today daily open	1.1022

Trends
Daily SMA20	1.1102
Daily SMA50	1.104
Daily SMA100	1.1115
Daily SMA200	1.1188

Levels
Previous Daily High	1.1056
Previous Daily Low	1.1016
Previous Weekly High	1.1176
Previous Weekly Low	1.1016
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1032
Daily Fibonacci 61.8%	1.1041
Daily Pivot Point S1	1.1007
Daily Pivot Point S2	1.0992
Daily Pivot Point S3	1.0967
Daily Pivot Point R1	1.1047
Daily Pivot Point R2	1.1072
Daily Pivot Point R3	1.1087

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.

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