EUR/USD technical analysis: Multiple barriers on the road to recovery, 1.0987 be the closest


  • 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

Overview
Today last price 1.0981
Today Daily Change 6 pips
Today Daily Change % 0.05%
Today daily open 1.0975
 
Trends
Daily SMA20 1.1001
Daily SMA50 1.1065
Daily SMA100 1.1154
Daily SMA200 1.1234
 
Levels
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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