EUR/USD Technical Analysis: Early Monday bullish action could face near-term challenges

EUR/USD faces early risk-on action following Monday market open, but the upside remains limited as the pair remains far off of Friday's peaks.

Joshua Gibson FXStreet

EUR/USD, 5-Minute

Although the pair looks set to continue the current push off of a higher low, technical indicators are set for a return to the mean, and the EUR continues to struggle at major levels.

EUR/USD, 30-Minute

On 4-Hour candles, EUR/USD continues to face rejection from the 200-period moving average currently sitting at 1.1390, and near-term swing lows are coiling the pair into a breaking pattern, but the overall trend remains biased towards the downside.

EUR/USD, 4-Hour

EUR/USD

Overview:
    Today Last Price: 1.1364
    Today Daily change: 42 pips
    Today Daily change %: 0.371%
    Today Daily Open: 1.1322
Trends:
    Previous Daily SMA20: 1.136
    Previous Daily SMA50: 1.1451
    Previous Daily SMA100: 1.153
    Previous Daily SMA200: 1.1765
Levels:
    Previous Daily High: 1.1402
    Previous Daily Low: 1.1305
    Previous Weekly High: 1.1402
    Previous Weekly Low: 1.1267
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.1342
    Previous Daily Fibonacci 61.8%: 1.1365
    Previous Daily Pivot Point S1: 1.1284
    Previous Daily Pivot Point S2: 1.1247
    Previous Daily Pivot Point S3: 1.1188
    Previous Daily Pivot Point R1: 1.138
    Previous Daily Pivot Point R2: 1.1439
    Previous Daily Pivot Point R3: 1.1477

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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