EUR/USD Technical Analysis: Descending trendline to keep the Euro pinned near 1.1460

The previous twenty-four hours of chart activity has the EUR/USD testing into Friday's highs near 1.1535, but the pair's bullish momentum continues to see downside risks as the 50-period moving average keeps the pair from running ahead of itself, and the supporting 200-period moving average is beginning to draw prices back into its trap.
EUR/USD analysis: more uncertainty ahead

Joshua Gibson FXStreet

EUR/USD, M5

The last week has seen the Fiber take a step lower, slipping beneath a previous support level at the 1.1535 region, and resistance is beginning to pile up as the 200-period moving average crosses below the key resistance barrier.

EUR/USD, M30

Over the past month the EUR/USD has slipped from a peak just shy of the 1.1800 major handle, facing declines all the way into 1.1433, and despite support from the 1.1460 zone, the pair has been unable to retake the 38.2% Fibo retracement level of the Fiber's decline, currently sitting at 1.1570, just beyond the declining trendline, currently plotted in as resistance near 1.1550.

EUR/USD, H4

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EUR/USD

Overview:
    Last Price: 1.1511
    Daily change: -20 pips
    Daily change: -0.173%
    Daily Open: 1.1531
Trends:
    Daily SMA20: 1.1571
    Daily SMA50: 1.1584
    Daily SMA100: 1.1623
    Daily SMA200: 1.1909
Levels:
    Daily High: 1.154
    Daily Low: 1.1531
    Weekly High: 1.1622
    Weekly Low: 1.1433
    Monthly High: 1.1816
    Monthly Low: 1.1526
    Daily Fibonacci 38.2%: 1.1496
    Daily Fibonacci 61.8%: 1.1472
    Daily Pivot Point S1: 1.1453
    Daily Pivot Point S2: 1.1392
    Daily Pivot Point S3: 1.1351
    Daily Pivot Point R1: 1.1555
    Daily Pivot Point R2: 1.1596
    Daily Pivot Point R3: 1.1657

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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