Market Analysis: EUR/USD Rebounds Modestly
Market Analysis: EUR/USD Rebounds Modestly
EUR/USD is climbing higher above 1.1520 and 1.1540.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a decent increase above the 1.1520 pivot level.
- There is a key bullish trend line forming with support near 1.1570 on the hourly chart of EUR/USD.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD, the pair started a fresh increase from 1.1500. The Euro cleared a few key hurdles near 1.1520 to move into a positive zone against the US Dollar.
The pair settled above 1.1550 and the 50-hour simple moving average. A high was formed at 1.1605 and the pair is now consolidating gains. There was a test of the 23.6% Fib retracement level of the upward move from the 1.1468 swing low to the 1.1605 high.
However, the bulls are active above 1.1550. Immediate support is near a key bullish trend line at 1.1570 and the 50-hour simple moving average. The first major key area of interest on the EUR/USD chart is near the 50% Fib retracement at 1.1540.
If there is a downside break below 1.1540, the pair could drop toward 1.1520. The next key breakdown area sits at 1.1465, below which the pair could start a major decline.
On the upside, the pair is now facing resistance near the 1.1590 zone. The next breakout region sits at 1.1605. An upside break above 1.1605 could set the pace for another increase. In the stated case, the pair might rise toward 1.1680.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
EUR/USD is climbing higher above 1.1520 and 1.1540.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a decent increase above the 1.1520 pivot level.
- There is a key bullish trend line forming with support near 1.1570 on the hourly chart of EUR/USD.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD, the pair started a fresh increase from 1.1500. The Euro cleared a few key hurdles near 1.1520 to move into a positive zone against the US Dollar.
The pair settled above 1.1550 and the 50-hour simple moving average. A high was formed at 1.1605 and the pair is now consolidating gains. There was a test of the 23.6% Fib retracement level of the upward move from the 1.1468 swing low to the 1.1605 high.
However, the bulls are active above 1.1550. Immediate support is near a key bullish trend line at 1.1570 and the 50-hour simple moving average. The first major key area of interest on the EUR/USD chart is near the 50% Fib retracement at 1.1540.
If there is a downside break below 1.1540, the pair could drop toward 1.1520. The next key breakdown area sits at 1.1465, below which the pair could start a major decline.
On the upside, the pair is now facing resistance near the 1.1590 zone. The next breakout region sits at 1.1605. An upside break above 1.1605 could set the pace for another increase. In the stated case, the pair might rise toward 1.1680.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน