EUR/USD may revisit Friday's high above 1.1320 over the next few hours, having witnessed an ascending triangle breakout - a bullish setup - on the 15-minute chart earlier today.
Supporting that bullish case is the range breakout on the 15-minute chart relative strength index and the fact that the spot has found acceptance above the 50-day moving average (MA), currently at 1.1298.
That said, the area just above 1.1320 has proved a tough nut to crack since Friday. Further, the spot created a small doji candle with long upper wick yesterday, signaling indecision in the market. A close above Friday's high of 1.1324 is needed to invalidate that doji candle and open the doors to further gains towards 1.14.
A close below 1.298 (Doji low) would confirm an end of the bounce from the recent low of 1.1184 and shift risk in favor of a drop to 1.1234-1.12. As of writing, the spot is trading at 1.1306.
Trend: Intraday bullish
|Today last price||1.1306|
|Today Daily Change||0.0002|
|Today Daily Change %||0.02|
|Today daily open||1.1304|
|Previous Daily High||1.1322|
|Previous Daily Low||1.1298|
|Previous Weekly High||1.1326|
|Previous Weekly Low||1.1213|
|Previous Monthly High||1.1448|
|Previous Monthly Low||1.1176|
|Daily Fibonacci 38.2%||1.1307|
|Daily Fibonacci 61.8%||1.1312|
|Daily Pivot Point S1||1.1293|
|Daily Pivot Point S2||1.1284|
|Daily Pivot Point S3||1.1269|
|Daily Pivot Point R1||1.1317|
|Daily Pivot Point R2||1.1331|
|Daily Pivot Point R3||1.1341|
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