EUR/USD on the recovery mode from 38.2% Fibonacci retracement. 50-day SMA, seven-week-old falling trendline limits immediate upside. Doji on the daily (D1) chart doubts the latest pullback. The EUR/USD pair’s latest recovery seems to be challenged soon considering Monday’s Doji candlestick formation on D1 and nearness to the key resistance-confluence. The quote currently takes the bids to 1.1030 by the press time of Tuesday morning in Asia. Among the resistances, 50-day Simple Moving Average (SMA) and a downward sloping trend-line since late-August, around 1.1040/45, becomes the key for buyers as a break of which can escalate the recovery to 50% Fibonacci retracement of August-October downpour, at 1.1065 now. During the pair’s further rise beyond 1.1065, 61.8% Fibonacci retracement near 1.1110 and August 23 high surrounding 1.1155 will lure buyers. On the downside break below 38.2% Fibonacci retracement near 1.1020, the pair can revisit eight-day-old horizontal support around 1.1000 mark. However, pair’s declines below 1.1000 may struggle to conquer a 21-day SMA level of 1.0985 and last week’s low nearing 1.0940. 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 Japan govt says it will consider extra budget for typhoon relief – Reuters FX Street 4 years EUR/USD on the recovery mode from 38.2% Fibonacci retracement. 50-day SMA, seven-week-old falling trendline limits immediate upside. Doji on the daily (D1) chart doubts the latest pullback. The EUR/USD pair's latest recovery seems to be challenged soon considering Monday's Doji candlestick formation on D1 and nearness to the key resistance-confluence. The quote currently takes the bids to 1.1030 by the press time of Tuesday morning in Asia. Among the resistances, 50-day Simple Moving Average (SMA) and a downward sloping trend-line since late-August, around 1.1040/45, becomes the key for buyers as a break of which can escalate the recovery to 50%… 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.
