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  • EUR/USD main bear trend is on hold for the sixth consecutive week as the market found a current 2018 low  at the 1.1300 level.  
  • EUR/USD bulls broke from the triangle compression pattern (blue lines)  as they are keeping the bull momentum going. Their objective is to break above last week high (1.1722) in order to reach the 1.1750 key resistance level which was active this July. The RSI, MACD and Stochastics indicators are bullishly configured.
  • A bear breakout below 1.1530 would invalidate the bullish bias

EUR/USD 4-hour chart

Spot rate:             1.1689
Relative change:    0.57%  
High:                    1.1699
Low:                     1.1618

Main trend:                    Bearish
Short-term trend:           Bullish above 1.1530

Resistance 1:   1.1722 last week high
Resistance 2:   1.1750 key resistance (July)
Resistance 3:   1.1800 figure
Resistance 4:   1.1853 June 14 high

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

Expert score

5

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