EUR/USD Technical Analysis: Bullish mirage or short-squeeze near 1.1330 resistance ?

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below its 200-day simple moving average (SMA).
EUR/USD has been capped by the 1.1330 resistance and the 50 SMA in the last days of trading.

EUR/USD 4-hour chart

EUR/USD formed a double top below 1.1330 resistance.
EUR/USD is trading above its main SMAs suggesting a bullish bias in the medium-term.

EUR/USD 30-minute chart

The market is trading above its main SMAs suggesting bullish momentum in the near-term.
EUR/USD might have a retest of 1.1330 resistance however bulls will need to break above it if they don't want a retracement back into the current range.
Bears will need to break below 1.1280 to travel to 1.1250 and 1.1220 if they gather enough momentum.
Key resistance is at 1.1330. A break above the level would open the doors to 1.1360 level.

Additional key levels

EUR/USD

Overview
Today last price	1.1296
Today Daily Change	0.0015
Today Daily Change %	0.13
Today daily open	1.1281

Trends
Daily SMA20	1.1269
Daily SMA50	1.13
Daily SMA100	1.135
Daily SMA200	1.1445

Levels
Previous Daily High	1.1316
Previous Daily Low	1.128
Previous Weekly High	1.1326
Previous Weekly Low	1.1213
Previous Monthly High	1.1448
Previous Monthly Low	1.1176
Daily Fibonacci 38.2%	1.1293
Daily Fibonacci 61.8%	1.1302
Daily Pivot Point S1	1.1268
Daily Pivot Point S2	1.1256
Daily Pivot Point S3	1.1233
Daily Pivot Point R1	1.1304
Daily Pivot Point R2	1.1328
Daily Pivot Point R3	1.134

Author

Flavio Tosti

Independent Analyst

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.