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EUR/USD  has been under pressure throughout the third quarter of the year – and the last day will likely be similar. Fierce resistance caps the world’s most popular currency pair.  

The  Technical Confluences Indicator  is showing that EUR/USD is struggling around 1.0935, which is the convergence of the Bollinger Band one-day Lower, BB 15-minute Lower, the Simple Moving Average 10-4 hours, the Fibonacci 23.6% one-week, the BB 15min-Middle, and more.  

Stronger resistance awaits at 1.0962, which is the confluence of the previous daily high, the SMA 100-1h, and the previous monthly low.  

Looking down, relatively weak support awaits at 1.0888, which is the meeting point of the Pivot Point one-month Support 1 and the PP 1w-S1.  

Lower, the currency pair may target 1.0837, where the PP 1w-S2 hits the price.  

All in all, resistance is stronger than support.  

Here is how it looks on the tool:

EUR USD technical confluence September 30 2019

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