Home EUR/USD Technical Analysis: Diamond pattern bull trap above 1.1430 resistance as Euro is set to revisit 1.1320 level by Friday
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EUR/USD Technical Analysis: Diamond pattern bull trap above 1.1430 resistance as Euro is set to revisit 1.1320 level by Friday

EUR/USD daily chart

  • EUR/USD is trading below its main simple moving averages SMAs on the daily chart.  

EUR/USD 4-hour chart

  • EUR/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.  
  • EUR/USD bulls failed to break above the 200 SMA and 1.1430 resistance The RSI indicator is near 50, the MACD is bearish and so is the Stochastic indicator.
  • The target for bears is the 1.1320  level and 1.1215 if the bears gather enough steam.

EUR/USD 30-minute chart

  • EUR/USD formed a diamond pattern as the market is trading below its 100 and 200 SMA.  
  • Technical indicators are all in bearish territories.  
  • All suggesting that a drop to 1.1320 could potentially be reached by Friday.  

 

Additional key levels at a glance:

EUR/USD

Overview:
       Last Price:  1.1387
       Daily change:  18  pips
       Daily change:  0.158%
       Daily Open:  1.1369
Trends:
       Daily SMA20:  1.1368
       Daily SMA50:  1.1504
       Daily SMA100:  1.1558
       Daily SMA200:  1.1806
Levels:
       Daily High:  1.1473
       Daily Low:  1.1358
       Weekly High:  1.142
       Weekly Low:  1.1216
       Monthly High:  1.1625
       Monthly Low:  1.1302
       Daily Fibonacci 38.2%:  1.1402
       Daily Fibonacci 61.8%:  1.1429
       Daily Pivot Point S1:  1.1327
       Daily Pivot Point S2:  1.1284
       Daily Pivot Point S3:  1.1211
       Daily Pivot Point R1:  1.1442
       Daily Pivot Point R2:  1.1515
       Daily Pivot Point R3:  1.1558

 

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