EUR/USD Technical Analysis: Tuesday currently eking out limited gains despite trade war concerns

Trade tariffs have yet to bleed over into European markets, bearish traders should be cautious with overbought hourly indicators.
Another showing from the ECB for Tuesday gives Draghi another chance to be even more dovish.
The Euro's support is holding, but could give out quickly.

Joshua Gibson FXStreet

EUR/USD Chart, 1-Hour

Spot rate: 1.1632
Relative change: 0.08%
High: 1.1644
Low: 1.1619

Trend: Bearish

Support 1: 1.1587 (current week open)
Support 2: 1.1543 (current week low)
Support 3: 1.1485 (S1 1-week pivot)

Resistance 1: 1.1661 (38.2% Fibo 1-week level)
Resistance 2: 1.1733 (61.8% Fibo 1-week level)
Resistance 3: 1.1795 (R1 1-week pivot)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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