- Tuesday's bullish hammer indicates EUR/USD could soon retest of recent highs near 1.1180.
- The daily chart also shows a failed breakdown, a strong bullish signal.
EUR/USD's pullback has ended and the pair could soon challenge recent highs near 1.1180, according to technical charts.
The common currency carved out a bullish hammer candle, validating the preceding day's bullish inside day candle.
The back-to-back bullish candlesticks have invalidated the downside break of the ascending trendline connecting Oct. 1 and Oct. 15 lows confirmed on Oct. 25. A failed breakdown is a powerful bullish signal.
Therefore, the recent high of 1.1180 could come into play in the next couple of days. A violation there would expose the 200-day moving average (MA) at 1.12.
As of writing, the pair is trading largely unchanged on the day at 1.1109.
|Today last price||1.1109|
|Today Daily Change||-0.0003|
|Today Daily Change %||-0.03|
|Today daily open||1.1112|
|Previous Daily High||1.112|
|Previous Daily Low||1.1074|
|Previous Weekly High||1.1063|
|Previous Weekly Low||1.0941|
|Previous Monthly High||1.111|
|Previous Monthly Low||1.0885|
|Daily Fibonacci 38.2%||1.1102|
|Daily Fibonacci 61.8%||1.1091|
|Daily Pivot Point S1||1.1084|
|Daily Pivot Point S2||1.1056|
|Daily Pivot Point S3||1.1038|
|Daily Pivot Point R1||1.113|
|Daily Pivot Point R2||1.1148|
|Daily Pivot Point R3||1.1176|
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