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  • EUR/USD main bear trend is switching to bullish as EUR/USD is trading above its 100-day simple moving average and above the 1.1750 key level.
  • EUR/USD is trading above rising and widening 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators are constructive for more gains. The bull trend line (green) remains supportive for  further gains as well.
  • The next resistance to overcome for bulls is 1.1800 figue. Once this is broken to the upside the next target becomes 1.1853 (June 14 high) and the 1.1900 figure. A bear breakout below 1.1530 would invalidate the bullish bias.

EUR/USD 4-hour chart

Spot rate:             1.1777
Relative change:    0.24%  
High:                    1.1791
Low:                     1.1730

Main trend:                    Bullish

Resistance 1:   1.1800 figure
Resistance 2:   1.1853 June 14 high
Resistance 3:   1.1900 figure

Support 1:   1.1750 key resistance (July)
Support 2:   1.1722 last week high
Support 3:   1.1654 August 27 high
Support 4:   1.1630 August 8 high key level
Support 5:   1.1600 figure
Support 6:   1.1572 July 19 low
Support 7:   1.1542 supply/demand level
Support 8:   1.1530 August 23 swing low
Support 9:   1.1508 June 8 low