Home EUR/USD Technical Analysis: EUR/USD trading just below 1.1700 ahead of Trump-Juncker meeting
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EUR/USD Technical Analysis: EUR/USD trading just below 1.1700 ahead of Trump-Juncker meeting

  • EUR/USD is trading sideways just below the 1.1700 figure ahead of the Trump-Juncker meeting scheduled at 17:30 GMT.  
  • EUR/USD has found some decent support just above the 1.1672 level as the bulls are trying to build a weekly base in the 1.1672-1.1700 zone.  
  • Both parties are pretty much in balance with bulls having a slight advantage in the near-term; their objective is to trade above Tuesday’s high and 1.1720 in order to reach 1.1730-1.1740 area. On the flip side bears want a breakout below 1.1672-1.1700 area in order to target the 1.1640-1.1649 zone.

EUR/USD 15-minute chart

Spot rate:              1.1692
Relative change:    0.05%  
High:                     1.1706
Low:                      1.1675

Trend:                   Bearish / Bullish correction

Resistance 1: 1.1730-1.1740 area, 23.6% Fibonacci retracement mid-April-May bear move, key level.
Resistance 2: 1.1760-1.1795 supply level
Resistance 3: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move

Support 1: 1.1672-1.1700 June 27 high and figure
Support 2: 1.1640-1.1649 area, key level and July 12 low  
Support 3: 1.1600-1.1613 figure and July 13 low
Support 4: 1.1560 June 14 low
Support 5: 1.1508 current 2018 low
Support 6: 1.1400 figure

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