“¢ The pair has been scaling higher along an ascending trend-line since the beginning of this week, albeit has struggled to build on its positive momentum further beyond 55-day SMA.
EUR/USD daily chart
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“¢ However, the fact that the pair is holding comfortably above important intraday moving averages – 50, 100 & 200-hour SMA, support prospects for an extension of the positive momentum.
1-hourly chart
-636808172728945360.png)
“¢ Moreover, bullish technical indicators on hourly/daily charts further add credence to the near-term constructive outlook amid the latest optimism over Italy’s budget.
“¢ Having said that, a convincing breakthrough the mentioned ascending trend-line support might turn the pair vulnerable to slide back towards the 1.1300 strong horizontal support.
EUR/USD
Overview:
Today Last Price: 1.1405
Today Daily change: 41 pips
Today Daily change %: 0.361%
Today Daily Open: 1.1364
Trends:
Previous Daily SMA20: 1.1354
Previous Daily SMA50: 1.1394
Previous Daily SMA100: 1.1491
Previous Daily SMA200: 1.1708
Levels:
Previous Daily High: 1.1404
Previous Daily Low: 1.1337
Previous Weekly High: 1.1444
Previous Weekly Low: 1.1269
Previous Monthly High: 1.15
Previous Monthly Low: 1.1216
Previous Daily Fibonacci 38.2%: 1.1378
Previous Daily Fibonacci 61.8%: 1.1362
Previous Daily Pivot Point S1: 1.1332
Previous Daily Pivot Point S2: 1.1301
Previous Daily Pivot Point S3: 1.1265
Previous Daily Pivot Point R1: 1.1399
Previous Daily Pivot Point R2: 1.1435
Previous Daily Pivot Point R3: 1.1466
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