EUR/USD Technical Analysis: Descending triangle breakout on 15-minute chart, today's close pivotal

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.

15-min chart

Daily chart

Trend: Intraday bullish

EUR/USD

Overview
Today last price 1.1306
Today Daily Change 0.0002
Today Daily Change % 0.02
Today daily open 1.1304
 
Trends
Daily SMA20 1.1273
Daily SMA50 1.1302
Daily SMA100 1.135
Daily SMA200 1.1447
Levels
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

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD steady around 1.1240 in ultra-thin holiday's trading

The EUR/USD pair bounced some 20 pips from its weekly low during the Asian session, now mute around 1.1240 with most market's off today. Softer-than-expected US housing data passed unnoticed.

EUR/USD News

GBP/USD battling around 1.3000

The GBP/USD pair is heading nowhere fast after bottoming for the week at 1.2978, amid lack of progress in Brexit negotiations.  Encouraging UK data failed to trigger Pound's demand.

GBP/USD News

USD/JPY: On track to close in the middle of its 50-pip weekly range below 112

The USD/JPY pair remains frozen below the 112 handle in the NA session and there is no reason for it to make a meaningful move as investors are already enjoying the Easter holiday.

USD/JPY News

The Tale of the Prosperous Consumer-US Retail Sales

American consumers asserted the right to spend in a grand fashion in March boosting retail sales to the fastest expansion in 18 months as the booming job market put the shutdown marked holiday season to rest.

Read more

Gold Forecast: Eyes 8-month rising trendline after weakest weekly close since December

The troy ounce of the precious metal lost around $17 this week and now looks to record its lowest weekly close since the end of December near $1275.

Gold News

majors

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •