“¢ The pair’s intraday positive momentum faced rejection near 100-hour SMA, though bulls have managed to stick to modest daily gains just above mid-1.1300s.
“¢ Technical indicators on 4-hourly/daily charts haven’t been able to gain any positive traction and have already started losing positive momentum on the 1-hourly chart.
“¢ However, the recent price action between two converging trend-lines, over the past one week or so, constituted towards the formation of a bullish falling wedge chart pattern.
“¢ Hence, it would be prudent to wait for a convincing breakthrough the mentioned trading range before traders start positioning for the pair’s next leg of directional move.
EUR/USD 1-hourly chart
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EUR/USD
Overview:
Today Last Price: 1.1366
Today Daily change: 36 pips
Today Daily change %: 0.318%
Today Daily Open: 1.133
Trends:
Previous Daily SMA20: 1.1366
Previous Daily SMA50: 1.1488
Previous Daily SMA100: 1.1548
Previous Daily SMA200: 1.1791
Levels:
Previous Daily High: 1.1422
Previous Daily Low: 1.1328
Previous Weekly High: 1.1473
Previous Weekly Low: 1.1328
Previous Monthly High: 1.1625
Previous Monthly Low: 1.1302
Previous Daily Fibonacci 38.2%: 1.1364
Previous Daily Fibonacci 61.8%: 1.1386
Previous Daily Pivot Point S1: 1.1298
Previous Daily Pivot Point S2: 1.1266
Previous Daily Pivot Point S3: 1.1204
Previous Daily Pivot Point R1: 1.1392
Previous Daily Pivot Point R2: 1.1454
Previous Daily Pivot Point R3: 1.1487
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