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 trims early gains, dangerously close to 1.1200

The positive tone of the pair fades in the American afternoon as demand for the dollar resumes, despite softer-than-expected US data. All eyes on the Fed this week.

EUR/USD News

GBP/USD extends decline, pierces 1.2550

Despite moving in slow-motion, GBP/USD decline is continuous with the pair trading at levels last seen in January, amid political uncertainty weighing on Sterling.

GBP/USD News

USD/JPY remains directionless above mid-108s on Monday

The USD/JPY pair is struggling to make a decisive move in either direction on Monday as the slightly upbeat market sentiment doesn't allow the safe-haven JPY to gather strength.

USD/JPY News

Gold remains on track to close with small losses below $1340

The XAU/USD pair, which closed higher on the weekly chart for the fourth straight time last week, is fluctuating in a relatively tight range on Monday amid a lack of significant fundamental drivers that had a lasting impact on the greenback's market valuation or the risk perception.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more

Majors

Cryptocurrencies

Signatures