- EUR/USD rises towards a three-week-old falling trend-line, 38.2% Fibonacci retracement.
- 50% Fibonacci retracement, 200-bar SMA and a descending resistance-line since late-August add to the upside barriers.
- 23.6% Fibonacci retracement, immediate support-line questions pair’s declines.
EUR/USD again aims for 1.0987 resistance-confluence while taking the bids to 1.0980 amid the initial trading session on Friday.
However, rising levels of 14-bar relative strength index (RSI) towards overbought territory might trigger the pair’s another pullback, if not then buyers will target another upside barrier around 1.1020/25 including 200-bar simple moving average (SMA) and 50% Fibonacci retracement of pair’s downpour since late-August.
Should there be additional run-up past-1.1025, a falling trend-line since August 25 and 61.8% Fibonacci retracement, nearing 1.1050/55, will be the key as a break of which can escalate the upward trajectory to mid-September tops close to 1.1110.
During the pair’s pullback, 1.0945/40 area including a three-day-old rising trend-line and 23.6% Fibonacci retracement becomes the key as declines below the same could recall 1.0900 and 1.0880 to the chart
EUR/USD 4-hour chart
Trend: pullback expected
additional important levels
|Today last price||1.0981|
|Today Daily Change||6 pips|
|Today Daily Change %||0.05%|
|Today daily open||1.0975|
|Previous Daily High||1.0999|
|Previous Daily Low||1.0941|
|Previous Weekly High||1.1026|
|Previous Weekly Low||1.0905|
|Previous Monthly High||1.111|
|Previous Monthly Low||1.0885|
|Daily Fibonacci 38.2%||1.0977|
|Daily Fibonacci 61.8%||1.0963|
|Daily Pivot Point S1||1.0944|
|Daily Pivot Point S2||1.0913|
|Daily Pivot Point S3||1.0885|
|Daily Pivot Point R1||1.1002|
|Daily Pivot Point R2||1.103|
|Daily Pivot Point R3||1.1061|
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