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EUR/USD Technical Analysis: Elliot wave pattern can send Euro down to 1.1350 level

EUR/USD 4-hour chart

  • EUR/USD broke above the 1.1430 resistance and the 200-period simple moving average.  
  • Technical indicators remain bullish with the Stochastic in the overbought zone.  
  • EUR/USD printed a 5-wave Elliot pattern suggesting that the bull run might be running out of steam.  

Additional key levels at a glance:

EUR/USD

Overview:
       Last Price:  1.1453
       Daily change:  37  pips
       Daily change:  0.324%
       Daily Open:  1.1416
Trends:
       Daily SMA20:  1.1374
       Daily SMA50:  1.1512
       Daily SMA100:  1.1563
       Daily SMA200:  1.1815
Levels:
       Daily High:  1.142
       Daily Low:  1.132
       Weekly High:  1.142
       Weekly Low:  1.1216
       Monthly High:  1.1625
       Monthly Low:  1.1302
       Daily Fibonacci 38.2%:  1.1382
       Daily Fibonacci 61.8%:  1.1358
       Daily Pivot Point S1:  1.135
       Daily Pivot Point S2:  1.1284
       Daily Pivot Point S3:  1.1249
       Daily Pivot Point R1:  1.1451
       Daily Pivot Point R2:  1.1486
       Daily Pivot Point R3:  1.1552

 

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