EUR/USD Technical Analysis: Euro bulls getting a good deal on Black Friday

EUR/USD surprises with a bullish turnaround after a failed breakdown below the 1.1000 handle.
Resistance is seen at the 1.1035 price level.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The euro/dollar currency pair, on the daily time frame, is trading in a downtrend below the main daily simple moving averages (DMAs). This Friday, on an intraday basis, the market dropped to six-week lows but the bulls stepped in lifted the pair back above the 1.1000 handle.

EUR/USD four-hour chart

EUR/USD formed a double bottom in November near the 1.1000 handle and rose above the 1.1020 resistance becoming now support. If the bulls can break 1.1035 resistance, the market is set to climb towards the 1.1047 and 1.1075 price levels, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

Although the weekly range was small, EUR/USD almost reversed the entire week in a matter of a couple of hours. The spot is trading back above the main SMAs, suggesting bullish momentum in the near term. Support can be seen at the 1.1020 level and 1.1000 handle.

Additional key levels

EUR/USD

Overview
Today last price	1.102
Today Daily Change	0.0011
Today Daily Change %	0.10
Today daily open	1.1009

Trends
Daily SMA20	1.1049
Daily SMA50	1.1041
Daily SMA100	1.1078
Daily SMA200	1.1167

Levels
Previous Daily High	1.102
Previous Daily Low	1.0998
Previous Weekly High	1.1098
Previous Weekly Low	1.1014
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1011
Daily Fibonacci 61.8%	1.1006
Daily Pivot Point S1	1.0998
Daily Pivot Point S2	1.0987
Daily Pivot Point S3	1.0976
Daily Pivot Point R1	1.102
Daily Pivot Point R2	1.1031
Daily Pivot Point R3	1.1042

Author

Flavio Tosti

Independent Analyst

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