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EUR/USD technical analysis: Euro ends the week in the green above the 1.1000 handle

  • EUR/USD is ending the week in positive territories adding 0.70%. 
  • The risk-on market mood and the Brexit optimism turned in favor of the EUR/USD bulls. 
  • The Michigan Consumer Sentiment Index came in better-than-expected at 96 vs 92 in October.
 
 

EUR/USD daily chart

 
 
On the daily chart, the shared currency is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The Fiber is breaking above a multi-week trendline and is challenging the 50 SMA. This Friday, the Michigan Consumer Sentiment Index came out better-than-expected at 96 vs 92 for October. The news limited further gains in the New York session. 
 

EUR/USD four-hour chart

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

EUR/USD 30-minute chart

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

Additional key levels 

EUR/USD

Overview
Today last price1.1037
Today Daily Change0.0026
Today Daily Change %0.24
Today daily open1.1011
 
Trends
Daily SMA201.0987
Daily SMA501.1051
Daily SMA1001.1145
Daily SMA2001.1223
 
Levels
Previous Daily High1.1034
Previous Daily Low1.098
Previous Weekly High1.1
Previous Weekly Low1.0879
Previous Monthly High1.111
Previous Monthly Low1.0885
Daily Fibonacci 38.2%1.1013
Daily Fibonacci 61.8%1.1001
Daily Pivot Point S11.0982
Daily Pivot Point S21.0954
Daily Pivot Point S31.0928
Daily Pivot Point R11.1037
Daily Pivot Point R21.1062
Daily Pivot Point R31.1091

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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