Market Analysis: EUR/USD Resumes Increase
EUR/USD started a fresh increase above the 1.0950 resistance.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a decent upward move from the 1.0880 zone against the US Dollar.
- There was a break above a key bearish trend line with resistance at 1.0955 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0775 zone. The Euro cleared the 1.0950 resistance to move into a bullish zone against the US Dollar, as mentioned in the last analysis.
The bulls pushed the pair above the 50-hour simple moving average and 1.1000. Finally, the pair tested the 1.1150 resistance. A high was formed near 1.1146 before the pair corrected gains. It dipped below 1.1000 and tested 1.0880.
The pair is again rising from the 1.0880 zone. There was a break above a key bearish trend line with resistance at 1.0955. The pair climbed above the 50% Fib retracement level of the downward move from the 1.1146 swing high to the 1.0880 low.
Immediate resistance on the EUR/USD chart is near the 1.1045 zone and the 61.8% Fib retracement level of the downward move from the 1.1146 swing high to the 1.0880 low.
The first major resistance is near the 1.1080 level. An upside break above the 1.1080 level might send the pair toward the 1.1145 resistance. The next major resistance is near the 1.1165 level. Any more gains might open the doors for a move toward the 1.1200 level.
Immediate support on the downside is near the 1.0955 level. The next major support is the 1.0880 level. A downside break below the 1.0880 support could send the pair toward the 1.0830 level. Any more losses might send the pair into a bearish zone toward 1.0775.
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 started a fresh increase above the 1.0950 resistance.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a decent upward move from the 1.0880 zone against the US Dollar.
- There was a break above a key bearish trend line with resistance at 1.0955 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0775 zone. The Euro cleared the 1.0950 resistance to move into a bullish zone against the US Dollar, as mentioned in the last analysis.
The bulls pushed the pair above the 50-hour simple moving average and 1.1000. Finally, the pair tested the 1.1150 resistance. A high was formed near 1.1146 before the pair corrected gains. It dipped below 1.1000 and tested 1.0880.
The pair is again rising from the 1.0880 zone. There was a break above a key bearish trend line with resistance at 1.0955. The pair climbed above the 50% Fib retracement level of the downward move from the 1.1146 swing high to the 1.0880 low.
Immediate resistance on the EUR/USD chart is near the 1.1045 zone and the 61.8% Fib retracement level of the downward move from the 1.1146 swing high to the 1.0880 low.
The first major resistance is near the 1.1080 level. An upside break above the 1.1080 level might send the pair toward the 1.1145 resistance. The next major resistance is near the 1.1165 level. Any more gains might open the doors for a move toward the 1.1200 level.
Immediate support on the downside is near the 1.0955 level. The next major support is the 1.0880 level. A downside break below the 1.0880 support could send the pair toward the 1.0830 level. Any more losses might send the pair into a bearish zone toward 1.0775.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.