“¢ The pair snapped four consecutive days of losing streak and started retreating from the top end of an ascending trend-channel formation on the 1-hourly chart.
“¢ Bears momentarily dragged the pair below an important confluence region near the 1.1300 handle – comprising of the trend-channel support and 50-hour EMA.
“¢ Oscillators on the daily chart maintained their bearish bias and have been losing momentum on the 1-hourly chart, adding credence to the near-term bearish set-up.
“¢ Hence, the emergence of technical selling has the potential to accelerate the intraday bearish trajectory towards 1.1280 intermediate support en-route the 1.1250-40 region.
EUR/USD 1-hourly chart
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EUR/USD
Overview:
Today Last Price: 1.1301
Today Daily change: -27 pips
Today Daily change %: -0.24%
Today Daily Open: 1.1328
Trends:
Daily SMA20: 1.1318
Daily SMA50: 1.1369
Daily SMA100: 1.137
Daily SMA200: 1.1492
Levels:
Previous Daily High: 1.134
Previous Daily Low: 1.1278
Previous Weekly High: 1.1388
Previous Weekly Low: 1.1176
Previous Monthly High: 1.1489
Previous Monthly Low: 1.1234
Daily Fibonacci 38.2%: 1.1316
Daily Fibonacci 61.8%: 1.1301
Daily Pivot Point S1: 1.129
Daily Pivot Point S2: 1.1253
Daily Pivot Point S3: 1.1228
Daily Pivot Point R1: 1.1352
Daily Pivot Point R2: 1.1377
Daily Pivot Point R3: 1.1414
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