EUR/USD technical analysis: Euro hangs at three-week highs after US CPI and ECB


  • EUR/USD is hanging at three-week highs at the start of the New York session. 
  • The US Core Consumer Price Index (CPI) met expectations at 2.4% YoY. 
  • In Europe, the European Central Bank’s (ECB) minutes showed opposition to QE. 
 
 
 

EUR/USD daily chart

 
 
On the daily chart, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). Earlier in Europe, the European Central Bank’s (ECB) minutes showed opposition to QE sending EUR/USD above the 1.1000 figure. In the New York session, the US Core Consumer Price Index (CPI) met expectations at 2.4% YoY. 
 
 
 

EUR/USD four-hour chart

 
EUR/USD broke above the 1.1000 figure and hit the 1.1025 resistance while trading above its main SMAs. If the market holds above the 1.1000/1.1025 zone, a run to 1.1080 can be on the cards, according to the Technical Confluences Indicator. 
 

EUR/USD 30-minute chart

 
 
EUR/USD is trading above its main SMAs, suggesting bullish momentum in the near term. Support is seen at the 1.1000 and 1.0976 support level. A daily close below the 1.1000 figure would alleviate the short term bullish bias.
 

Additional key levels 

EUR/USD

Overview
Today last price 1.1023
Today Daily Change 0.0039
Today Daily Change % 0.36
Today daily open 1.0984
 
Trends
Daily SMA20 1.0989
Daily SMA50 1.1053
Daily SMA100 1.1146
Daily SMA200 1.1225
 
Levels
Previous Daily High 1.099
Previous Daily Low 1.0955
Previous Weekly High 1.1
Previous Weekly Low 1.0879
Previous Monthly High 1.111
Previous Monthly Low 1.0885
Daily Fibonacci 38.2% 1.0977
Daily Fibonacci 61.8% 1.0968
Daily Pivot Point S1 1.0963
Daily Pivot Point S2 1.0941
Daily Pivot Point S3 1.0927
Daily Pivot Point R1 1.0998
Daily Pivot Point R2 1.1012
Daily Pivot Point R3 1.1033

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD advances toward highs after dismal US retail sales

EUR/USD is trading above 1.1050 as the dollar loses ground amid poor data. Retail sales missed on most measures with the control group remaining flat. Optimism about Brexit also keeps the euro bid.

EUR/USD News

GBP/USD soars to five-month high on hopes for a Brexit deal

GBP/USD is trading above 1.28, the highest since May. Reports suggest that the DUP removed its objection to parts of the Brexit deal. Intense talks continue in Brussels and London. US retail sales missed expectations.

GBP/USD News

USD/JPY consolidates Tuesday's gains, trades around 108.70 ahead of US data

Market mood turns sour amid Brexit uncertainty on Wednesday. US Dollar Index stays relatively calm below 98.50. Coming up: September retail sales data from the United States (US). 

USD/JPY News

Gold jumps to session tops, around $1490 level

Gold jumped to fresh session tops, around the $1490 region in the last hour and has now recovered a major part of the overnight downfall.

Gold News

Bitcoin bulls surrender $8,000, more pain ahead

The cryptocurrency market is in the tailspin. Bitcoin's collapse below critical $8,000 triggered a host os sell-orders and affected the momentum of all major altcoins as well.

Read more

Forex MAJORS

Cryptocurrencies

Signatures