EUR/USD technical analysis: Euro pressuring October highs ahead of Michigan Consumer Sentiment Index


  • EUR/USD is pressuring the daily highs near 1.1062 in the New York session. 
  • Risk-on market mood and Brexit optimism are benefiting EUR/USD. 
  • The Michigan Consumer Sentiment Index for October is scheduled at 14:00 GMT. 
 
 

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 market is breaking above a multi-week trendline and the 50 SMA. On the macroeconomic front, next in line is the Michigan Consumer Sentiment Index for October at 14:00 GMT. 
 

EUR/USD four-hour chart

 
The market is trading above its main SMAs, suggesting bullish momentum in the medium term. EUR/USD is nearing the 1.1076 resistance as bulls are in control. Further up lie the 1.0972 resistance, according to the Technical Confluences Indicator, which is near the September highs. 
 

EUR/USD 30-minute chart

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

Additional key levels 

EUR/USD

Overview
Today last price 1.1056
Today Daily Change 0.0045
Today Daily Change % 0.41
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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