|

EUR/USD technical analysis: Recent bull run currently capped at 1.1320 resistance

  • The US and Mexico reached a deal on tariffs and immigration, which is seen as positive for USD.
  • The European Central Bank is considering cutting interest rates to ramp up inflation.
  • The bank holiday in some European countries is keeping the volatility low. EUR/USD is essentially trading sideways this Monday.


EUR/USD daily chart

EUR/USD is trading in a bear trend below its 200 simple moving averages (SMAs).

EUR/USD 4-hour chart
 

The market is testing 1.1320 resistance while trading above its main SMAs.


EUR/USD 30-minute chart

Fiber is consolidating below 1.1320 and the 50 SMA. It is trading above the 100 and 200 SMAs and a sustained break beyond 1.1320 is needed to reach 1.1400 handle. On the flip side, a daily close below 1.1250 would be seen as bearish.

Additional key levels

EUR/USD

Overview
Today last price1.1312
Today Daily Change-0.0022
Today Daily Change %-0.19
Today daily open1.1334
 
Trends
Daily SMA201.1198
Daily SMA501.1214
Daily SMA1001.1275
Daily SMA2001.1369
Levels
Previous Daily High1.1348
Previous Daily Low1.1251
Previous Weekly High1.1348
Previous Weekly Low1.116
Previous Monthly High1.1266
Previous Monthly Low1.1107
Daily Fibonacci 38.2%1.1311
Daily Fibonacci 61.8%1.1288
Daily Pivot Point S11.1274
Daily Pivot Point S21.1214
Daily Pivot Point S31.1177
Daily Pivot Point R11.1372
Daily Pivot Point R21.1409
Daily Pivot Point R31.1469

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

More from Flavio Tosti
Share:

Editor's Picks

EUR/USD treads water above 1.1850 amid thin trading

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday.  The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day. 

GBP/USD flat lines as traders await key UK and US macro data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold sticks to intraday losses; lacks follow-through

Gold remains depressed through the early European session on Monday, though it has managed to rebound from the daily trough and currently trades around the $5,000 psychological mark. Moreover, a combination of supporting factors warrants some caution for aggressive bearish traders, and before positioning for deeper losses.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.