EUR/USD recovers from near-term key support lines. 100-day SMA, the three-week-old rising trend line will challenge buyers. EUR/USD takes the bids to 1.1025 during the Asian session on Monday. The pair recently recovered from an upward sloping trend line since October 01. As a result, buyers will target 50% Fibonacci retracement of the previous month upside, at 1.1030, as immediate resistance ahead of confronting 38.2% Fibonacci retracement level near 1.1065. Though, 1.1080/85 area including 100-day Simple Moving Average (SMA) and a falling trend line since November 04 could keep pair’s further upside in check. Alternatively, pair’s declines below 1.1015 support line will shift the market’s focus to 61.8% Fibonacci retracement level of 1.0994 and October 08 low near 1.0940. If bears dominate past-1.0940, the October month’s bottom close to 1.0880 will become their favorite. Traders should observe that the 12-bar Moving Average Convergence and Divergence (MACD) indicator keeps flashing bearish signals and raise doubts on any recovery. EUR/USD daily chart Trend: Pullback expected 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 Gold bears looking for a break of $1,455 on risk-on headlines FX Street 3 years EUR/USD recovers from near-term key support lines. 100-day SMA, the three-week-old rising trend line will challenge buyers. EUR/USD takes the bids to 1.1025 during the Asian session on Monday. The pair recently recovered from an upward sloping trend line since October 01. As a result, buyers will target 50% Fibonacci retracement of the previous month upside, at 1.1030, as immediate resistance ahead of confronting 38.2% Fibonacci retracement level near 1.1065. Though, 1.1080/85 area including 100-day Simple Moving Average (SMA) and a falling trend line since November 04 could keep pair's further upside in check. Alternatively, pair's declines below 1.1015 support… 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.
