EUR/USD Technical Analysis: Fiber rolling into Asia near 1.1080 level

EUR/USD started December with a strong bullish breakout.
The level to beat for buyers is the 1.1110 resistance.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD currency pair, on the daily time frame, is trading in a bear trend below the 200-day simple moving averages (DMAs). However, this Monday, the market had a strong reversal up above the 1.1000 handle and the 50/100 SMA.

EUR/USD four-hour chart

EUR/USD is approaching the1.1100 resistance while challenging the 200 SMA on the 4-hour chart. The buyers have likely taken control and if 1.1100 is taken out, the market can advance towards the 1.1137 and 1.1180 resistances, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The spot had an unusually large bullish breakout this Monday. Support can be seen at the 1.1062, 1.1045 and 1.1022 price levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1079
Today Daily Change	0.0062
Today Daily Change %	0.56
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

EUR/USD remains offered below 1.1800, looks at US data

EUR/USD is still trading on the defensive in the latter part of Thursday’s session, while the US Dollar maintains its bid bias as investors now gear up for Friday’s key release of the PCE data, advanced Q4 GDP prints and flash PMIs.

GBP/USD bounces off monthly lows near 1.3430

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3430 area, its lowest levels in the month. The move reflects a firmer Greenback, supported by another round of solid US data and a somewhat divided FOMC Minutes.

Gold surrenders some gains, back below $5,000

Gold is giving away part of its earlier gains on Thursday, receding to the sub-$5,000 region per troy ounce. The precious metal is finding support from renewed geopolitical tensions in the Middle East and declining US Treasury yields across the curve in a context of further advance in the Greenback.

XRP edges lower as SG-FORGE integrates EUR stablecoin on XRP Ledger

Ripple’s (XRP) outlook remains weak, as headwinds spark declines toward the $1.40 psychological support at the time of writing on Thursday.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.