- Breakout in EUR/USD remains elusive despite Friday's bullish candle.
- A close above 1.1184 is needed to confirm an inverse head-and-shoulders breakout.
EUR/USD is reporting marginal losses at press time, marking a weak follow-through to Friday's bullish candle.
The pair is currently trading at 1.1163, representing a marginal loss on the day.
The currency pair formed a green candle with a long lower shadow on Friday, signaling dip demand near 1.1128. Essentially, the day had begun with pessimism but ended on a positive note.
So far, however, Friday's bullish candle has failed to draw bids for the common currency.
Also, the resistance at 1.1184 is the level to beat for the bulls. A close above that would confirm an inverse head-and-shoulders breakout, as per the daily chart, and create room for a rally to 1.1489 (target as per the measured move method).
Trend: Bullish above 1.1184
|Today last price||1.1163|
|Today Daily Change||-0.0004|
|Today Daily Change %||-0.04|
|Today daily open||1.1166|
|Previous Daily High||1.1174|
|Previous Daily Low||1.1128|
|Previous Weekly High||1.1063|
|Previous Weekly Low||1.0941|
|Previous Monthly High||1.118|
|Previous Monthly Low||1.0879|
|Daily Fibonacci 38.2%||1.1156|
|Daily Fibonacci 61.8%||1.1146|
|Daily Pivot Point S1||1.1138|
|Daily Pivot Point S2||1.1111|
|Daily Pivot Point S3||1.1093|
|Daily Pivot Point R1||1.1183|
|Daily Pivot Point R2||1.1201|
|Daily Pivot Point R3||1.1228|
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