EUR/USD Technical Analysis: Euro starting December with high volatility breakout

EUR/USD is having a substantial bullish breakout this Monday.
The level to beat for bulls is the 1.1110 resistance.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The euro/dollar currency pair, on the daily time frame, is trading in a downtrend below the 100 and 200-day simple moving averages (DMAs). However, this Monday, the market is having a sharp reversal up above the 1.1000 handle and the 50 SMA.

EUR/USD four-hour chart

EUR/USD is nearing the 1.1080 level while challenging the 200 SMA on the 4-hour chart. Bulls have taken control and the next objective for them is likely to reach the 1.1110 resistance level on the way up. If this level is cleared, more gains could be on the ecards as 1.1137 and 1.1180 could come into play according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The market had a remarkable bullish breakout this Monday, switching the bias to bullish. Support can be seen at the 1.1062, 1.1045 and 1.1022 price levels.

Additional key levels

EUR/USD

Overview
Today last price	1.1069
Today Daily Change	0.0052
Today Daily Change %	0.47
Today daily open	1.1017

Trends
Daily SMA20	1.1042
Daily SMA50	1.1041
Daily SMA100	1.1076
Daily SMA200	1.1166

Levels
Previous Daily High	1.103
Previous Daily Low	1.0981
Previous Weekly High	1.1034
Previous Weekly Low	1.0981
Previous Monthly High	1.1176
Previous Monthly Low	1.0981
Daily Fibonacci 38.2%	1.1011
Daily Fibonacci 61.8%	1.1
Daily Pivot Point S1	1.0989
Daily Pivot Point S2	1.0961
Daily Pivot Point S3	1.094
Daily Pivot Point R1	1.1037
Daily Pivot Point R2	1.1058
Daily Pivot Point R3	1.1086

Author

Flavio Tosti

Independent Analyst

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