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EUR/USD technical analysis: Euro correcting up and finding some resistance at 1.1250 level

EUR/USD is in correction mode this Monday bouncing from the 1.1200 level.
The bear trend remains intact with the level to beat for bears at 1.1200 figure.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below its 100 and 200-day simple moving average (DSMA). The market has found some support at the 50 DSMA near 1.1219.

EUR/USD 4-hour chart

The market is starting the week with a rebound from the 1.1200 figure and the 200 SMA. The move can be seen as corrective as long as the market doesn’t surpass the 1.1300 handle.

EUR/USD 30-minute chart

EUR/USD is trading at daily highs and testing 1.1250 and the 100 SMA. The overall momentum remains bearish however if the market reclaims 1.1280/1.1300 on a daily closing basis it would question the bear case. For sellers, a daily close below 1.1200 would be seen as encouraging with a potential continuation down towards 1.1160 and 1.1120.

Additional key levels

EUR/USD

Overview
Today last price	1.1238
Today Daily Change	0.0028
Today Daily Change %	0.25
Today daily open	1.121

Trends
Daily SMA20	1.122
Daily SMA50	1.122
Daily SMA100	1.1271
Daily SMA200	1.1361

Levels
Previous Daily High	1.1291
Previous Daily Low	1.1202
Previous Weekly High	1.1344
Previous Weekly Low	1.1202
Previous Monthly High	1.1266
Previous Monthly Low	1.1107
Daily Fibonacci 38.2%	1.1236
Daily Fibonacci 61.8%	1.1257
Daily Pivot Point S1	1.1178
Daily Pivot Point S2	1.1146
Daily Pivot Point S3	1.109
Daily Pivot Point R1	1.1266
Daily Pivot Point R2	1.1322
Daily Pivot Point R3	1.1354

Author

Flavio Tosti

Independent Analyst

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