“¢ The pair continued gaining positive traction for the fifth straight session on Thursday and is now looking to build on the momentum further beyond the key 1.1500 psychological mark.
“¢ The fact that the pair has found acceptance above 100-day SMA support prospects for further up-move, though slightly overbought conditions on the 4-hourly chart seemed to cap gains.
“¢ The ongoing bullish trajectory over the past one week or so paused near a resistance marked by a descending trend-line, extending from Sept. 2018 swing high through tops set earlier this month.
“¢ Meanwhile, technical indicators on the daily chart have just started gaining traction and add credence to the constructive set-up ahead of the flash Euro-zone Q3 GDP growth figures.
EUR/USD daily chart
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EUR/USD
Overview:
Today Last Price: 1.1504
Today Daily change %: 0.20%
Today Daily Open: 1.1481
Trends:
Daily SMA20: 1.1422
Daily SMA50: 1.1393
Daily SMA100: 1.1446
Daily SMA200: 1.1568
Levels:
Previous Daily High: 1.1502
Previous Daily Low: 1.1406
Previous Weekly High: 1.1418
Previous Weekly Low: 1.1289
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Daily Fibonacci 38.2%: 1.1466
Daily Fibonacci 61.8%: 1.1443
Daily Pivot Point S1: 1.1424
Daily Pivot Point S2: 1.1367
Daily Pivot Point S3: 1.1327
Daily Pivot Point R1: 1.152
Daily Pivot Point R2: 1.156
Daily Pivot Point R3: 1.1617
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