EUR/USD is awaiting Mario Draghi’s last decision as President of the European Central Bank. How is it positioned? The Technical Confluences Indicator is showing that the world’s most popular currency pair is struggling with 1.1139, which is the convergence of the Simple Moving Average 5-15m, the SMA 50-15m, the SMA 10-1h, the SMA 10-15m, the SMA 100 one day, the Bollinger BAnd 15min-Middle, and the BB 1h-Upper. Looking up, some resistance awaits at 1.1185, which is the meeting point of the Pivot Point one-day Resistance 3 and the BB one-day Upper. Further above, 1.1215 is the next upside target. It is the confluence of the previous yearly low, the SMA 200-one-day, and the PP one-week Resistance 3. Strong support awaits all the way down, with a dense cluster standing out at 1.1092. This includes the SMA 10-one-day, the PP one-day S2, the Fibonacci 161.8% one-day, and the PP one-week Resistance 1. Further down, EUR/USD has support at 1.1023, which is where the BB one-day Middle, the SMA 200-4h, the Fibonacci 38.2% one-week, and the Fibonacci 61.8% one-month converge. Here is how it looks on the tool: Confluence Detector The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas. Learn more about Technical Confluence FX Street 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 Post By FX Street FXStreet News share Read Next Binance speeds the development of a “regional” and “belt version” of Libra FX Street 3 years EUR/USD is awaiting Mario Draghi's last decision as President of the European Central Bank. How is it positioned? The Technical Confluences Indicator is showing that the world's most popular currency pair is struggling with 1.1139, which is the convergence of the Simple Moving Average 5-15m, the SMA 50-15m, the SMA 10-1h, the SMA 10-15m, the SMA 100 one day, the Bollinger BAnd 15min-Middle, and the BB 1h-Upper. Looking up, some resistance awaits at 1.1185, which is the meeting point of the Pivot Point one-day Resistance 3 and the BB one-day Upper. Further above, 1.1215 is the next… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
