- EUR/USD is stuck in a falling channel on the daily chart.
- A move through 1.1145 is needed to confirm a bull breakout.
EUR/USD is currently trading at 1.1140, representing marginal gains on the day, having hit a low of 1.1085 on Jan. 10.
On the daily chart, the pair is stuck in a falling channel, as represented by trendlines connecting Dec.31 and Jan. 7 highs and Jan. 3 and Jan. 10 lows.
At press time, the pair is trading within a striking distance from the channel resistance at 1.1145. A convincing move through that level would imply an end of the pullback from recent highs near 1.1240 and will likely bring in a re-test of that level.
On the other hand, a rejection at the falling channel resistance may end up inviting stronger selling pressure, leading to a drop below the Jan. 10 low of 1.1085.
Trend: Bullish above 1.1145
|Today last price||1.1141|
|Today Daily Change||0.0003|
|Today Daily Change %||0.03|
|Today daily open||1.1138|
|Previous Daily High||1.1147|
|Previous Daily Low||1.1112|
|Previous Weekly High||1.1208|
|Previous Weekly Low||1.1085|
|Previous Monthly High||1.124|
|Previous Monthly Low||1.1002|
|Daily Fibonacci 38.2%||1.1134|
|Daily Fibonacci 61.8%||1.1126|
|Daily Pivot Point S1||1.1118|
|Daily Pivot Point S2||1.1097|
|Daily Pivot Point S3||1.1082|
|Daily Pivot Point R1||1.1153|
|Daily Pivot Point R2||1.1168|
|Daily Pivot Point R3||1.1188|
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