“¢ The pair has been oscillating within a broader trading range, below 100-hour SMA, since the early North-American session on Tuesday.
“¢ The range-bound price action constituted towards a rectangular chart pattern formation on the 1-hourly chart, marking a pause in the trend.
“¢ Meanwhile, technical indicators on hourly/daily chart have struggled to gain any positive traction and hints to a possible bearish breakdown.
EUR/USD 1-hourly chart
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“¢ However, a positive breakthrough the mentioned trading range could get extended but seems more likely to be capped near a short-term descending trend-line.
“¢ The mentioned trend-line, along with another ascending trend-line, forms another bearish consolidative pattern – symmetrical triangle on the daily chart.
Daily chart
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EUR/USD
Overview:
Today Last Price: 1.1342
Today Daily change: -3.0 pips
Today Daily change %: -0.0264%
Today Daily Open: 1.1345
Trends:
Previous Daily SMA20: 1.1348
Previous Daily SMA50: 1.1427
Previous Daily SMA100: 1.152
Previous Daily SMA200: 1.1751
Levels:
Previous Daily High: 1.1362
Previous Daily Low: 1.1311
Previous Weekly High: 1.1402
Previous Weekly Low: 1.1267
Previous Monthly High: 1.15
Previous Monthly Low: 1.1216
Previous Daily Fibonacci 38.2%: 1.1342
Previous Daily Fibonacci 61.8%: 1.133
Previous Daily Pivot Point S1: 1.1317
Previous Daily Pivot Point S2: 1.1288
Previous Daily Pivot Point S3: 1.1266
Previous Daily Pivot Point R1: 1.1367
Previous Daily Pivot Point R2: 1.139
Previous Daily Pivot Point R3: 1.1418
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