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

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD hovering above 1.1050 amid trade concerns, ahead of ECB minutes

EUR/USD is trading above 1.1050, at familiar levels. Doubts that a US-Sino trade deal may be reached are weighing on markets. The Fed's minutes have reaffirmed the wait-and-see mode, and the ECB's minutes are awaited. 

EUR/USD News

GBP/USD advances above 1.29 as Conservatives remain in the lead

GBP/USD is rising above 1.29 as fresh opinion polls continue showing a solid lead for Prime Minister Boris Johnson's Conservatives. Further political headlines are awaited.

GBP/USD News

USD/JPY bounces-off 50-DMA but lacks follow-through

USD/JPY has bounced up from the 50-day MA support of 108.28. China's Vice Premier Liu He is cautiously optimistic about the prospects of the US-China trade deal. Related markets, however, are not buying Liu He's optimism, keeping the recovery in check. 

USD/JPY News

Gold flirting with session lows, around $1470 region

Gold edged lower through the Asian session on Thursday and is currently placed near the lower end of its daily trading range, around the $1470 region.

Gold News

Hong Kong now a feature in trade negotiations?

The US Senate and House have both passed the Hong Kong Human Rights and Democracy Bill, so now it heads to the desk of US President Trump to either sign or veto it. Sources suggest that the President will sign it into law.

Read more

Forex MAJORS

Cryptocurrencies

Signatures