Home EUR/USD Technical Analysis: A surpass of the 100-day SMA allows for a test of 1.1180

FXStreet News

EUR/USD Technical Analysis: A surpass of the 100-day SMA allows for a test of 1.1180

FX Street

Published date: 30 Oct. 2019 | 11:42

EUR/USD is prolonging the recovery so far this week and is now testing the key 100-day SMA in the 1.1120 region, coming up from 2-week lows in the 1.1070 region.
Against this backdrop, last Thursday’s bearish ‘outside day’ has already played its part and the focus now appears to have re-shifted to the upside.
That said, a move beyond the 100-day SMA should open the door for another visit to monthly peaks near 1.1180 ahead of the more relevant 200-day SMA just below 1.1200 the figure.

EUR/USD daily chart

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.