Home EUR/USD Technical Analysis: Bearish divergence prompts some correction near term
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EUR/USD Technical Analysis: Bearish divergence prompts some correction near term

  • The pair gathered further traction on Friday and moved above the critical 1.1400 the figure, where it appears to have met some important resistance so far today.
  • The bearish divergence in the hourly RSI (14) hints at the likeliness that a correction lower could be in the offing in the short-term horizon.
  • Further upside, in the meantime, should regain the 1.1440/50 band, where converge a Fibo retracement of the September-November dop and the key 100-day SMA.

EUR/USD daily chart

EUR/USD

Overview:
       Today Last Price:  1.1393
       Today Daily change:  -0.0022  pips
       Today Daily change %:  -0.19%
       Today Daily Open:  1.1415
Trends:
       Daily SMA20:  1.1418
       Daily SMA50:  1.139
       Daily SMA100:  1.1451
       Daily SMA200:  1.1579
Levels:
       Previous Daily High:  1.1418
       Previous Daily Low:  1.13
       Previous Weekly High:  1.1418
       Previous Weekly Low:  1.1289
       Previous Monthly High:  1.1486
       Previous Monthly Low:  1.1269
       Daily Fibonacci 38.2%:  1.1373
       Daily Fibonacci 61.8%:  1.1345
       Daily Pivot Point S1:  1.1337
       Daily Pivot Point S2:  1.1259
       Daily Pivot Point S3:  1.1218
       Daily Pivot Point R1:  1.1456
       Daily Pivot Point R2:  1.1497
       Daily Pivot Point R3:  1.1575

 

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