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   “¢   The pair maintained a mildly positive tone through the mid-European session, albeit continued with its struggle to build on the momentum further beyond the 1.1300 mark.

   “¢   The mentioned handle coincides with 50% Fibonacci retracement level of the 1.1422-1.1176 recent slump and hence, should act as a key pivotal point for intraday traders.

   “¢   Looking at a slightly bigger picture, the post-ECB recovery from the lowest level since June 2017 has been along an ascending trend-channel formation on the 1-hourly chart.

   “¢   Given the recent decline over the past two weeks or so, the channel seemed to have constituted towards the formation of a bearish continuation flag chart pattern.

   “¢   Hence, any subsequent move beyond the 1.1300 handle seems more likely to remain capped, rather meet with some fresh supply near the 1.1320 region (pre-ECB swing high).

   “¢   Meanwhile, a convincing break below the 1.1270 confluence region – comprising of 38.2% Fibo. level, 50-hour SMA and the channel support, will further reinforce the bearish outlook.

EUR/USD 1-hourly chart


       Today Last Price:  1.1302
       Today Daily change:  15  pips
       Today Daily change %:  0.13%
       Today Daily Open:  1.1287
       Daily SMA20:  1.1315
       Daily SMA50:  1.1369
       Daily SMA100:  1.1371
       Daily SMA200:  1.1494
       Previous Daily High:  1.1308
       Previous Daily Low:  1.1244
       Previous Weekly High:  1.1388
       Previous Weekly Low:  1.1176
       Previous Monthly High:  1.1489
       Previous Monthly Low:  1.1234
       Daily Fibonacci 38.2%:  1.1283
       Daily Fibonacci 61.8%:  1.1268
       Daily Pivot Point S1:  1.1252
       Daily Pivot Point S2:  1.1217
       Daily Pivot Point S3:  1.1189
       Daily Pivot Point R1:  1.1315
       Daily Pivot Point R2:  1.1343
       Daily Pivot Point R3:  1.1378