EUR/USD technical analysis: Euro rolling into the Asian session off three-week highs near 1.1000 level


  • EUR/USD broke to three-week highs this Thursday as the European Central Bank’s (ECB) minutes showed opposition to QE (Quantitative Easing).
  • In the United States, the Core Consumer Price Index (CPI) matched analysts’ expectations at 2.4% YoY and EUR/USD eased from daily highs.
 
 
 

 

EUR/USD daily chart

 
 
On the daily chart, the shared currency is trading in a bear trend below its main daily simple moving averages (DSMAs). This Thursday in Europe, the European Central Bank’s (ECB) minutes showed opposition to QE sending EUR/USD above the 1.1000 figure. However, in the New York session, the US Core Consumer Price Index (CPI) came out at 2.4% YoY matching forecasts and EUR/USD eased about 25 pips from daily highs. 
 
 
 

EUR/USD four-hour chart

 
EUR/USD is consolidating the recent move up to the 1.1025 resistance. The spot is trading above its main SMAs, suggesting bullish momentum in the medium term. If the market holds above the 1.1000/1.1025 support zone, EUR/USD can attempt to run towards the 1.1080 level on the way up, 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 1.1000 and 1.0976 support level. A daily close below those levels could mitigate the short term bullish bias.
 

Additional key levels 

EUR/USD

Overview
Today last price 1.1007
Today Daily Change 0.0023
Today Daily Change % 0.21
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

 

 

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