News

EUR/USD Technical Analysis: A visit to 1.1853 remains on the cards near term

  • Spot keeps the underlying bid tone at the beginning of the week and a test of June’s peak at 1.1853 still remains in the pipeline.
  • A close above Friday’s tops just beyond 1.1800 the figure should open the door for a visit to the mid-1.1800s, regarded as the last defence of a test of the critical 200-day SMA, today near 1.1950.
  • Adding to the constructive bias, the pair continues to trade above the daily cloud and the 100-day SMA.

EUR/USD daily chart

Daily high: 1.1753

Daily low: 1.1723

Support Levels

S1: 1.1720

S2: 1.1691

S3: 1.1649

Resistance Levels

R1: 1.1791

R2: 1.1832

R3: 1.1861

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS

Articles You May Like

Gold Price Weekly Forecast: Fed Drives Next Leg Higher
Pound inches a little higher as Johnson takes office, what’s next?
My Naked Forex Scalping 2019
The New Zealand dollar sinks most among G10 currencies
GBPUSD failed for the 2nd week in a row below 2018 lows

Leave a Reply

Your email address will not be published. Required fields are marked *