EUR/USD technical analysis: Euro clings to weekly gains after the London close


  • EUR/USD is trading near the 1.1065 resistance after the London close.
  • Risk-on market mood and Brexit optimism are giving EUR/USD a boost.
  • The Michigan Consumer Sentiment Index came out better-than-expected at 96 vs 92 for October.
 
 

EUR/USD daily chart

 
 
On the daily chart, the common currency is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The spot is breaking above a multi-week trendline and the 50 SMA. On the macroeconomic front, the Michigan Consumer Sentiment Index came out better-than-expected at 96 vs 92 for October, having little to no effect on EUR/USD. 
 

 

EUR/USD four-hour chart

 
 
The market is trading above its main SMAs, suggesting bullish momentum in the medium term. EUR/USD is consolidating the recent gains below the 1.1065 resistance as bulls are in control. A break above this level can expose the 1.1110 resistance, according to the Technical Confluences Indicator.
 

EUR/USD 30-minute chart

 
 
The Fiber is trading above its main SMAs, suggesting bullish momentum in the near term. Support can be seen at the 1.1025/07 zone and the 1.0972 price level. 
 

Additional key levels 

EUR/USD

Overview
Today last price 1.1047
Today Daily Change 0.0036
Today Daily Change % 0.33
Today daily open 1.1011
 
Trends
Daily SMA20 1.0987
Daily SMA50 1.1051
Daily SMA100 1.1145
Daily SMA200 1.1223
 
Levels
Previous Daily High 1.1034
Previous Daily Low 1.098
Previous Weekly High 1.1
Previous Weekly Low 1.0879
Previous Monthly High 1.111
Previous Monthly Low 1.0885
Daily Fibonacci 38.2% 1.1013
Daily Fibonacci 61.8% 1.1001
Daily Pivot Point S1 1.0982
Daily Pivot Point S2 1.0954
Daily Pivot Point S3 1.0928
Daily Pivot Point R1 1.1037
Daily Pivot Point R2 1.1062
Daily Pivot Point R3 1.1091

 

 

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