Search ForexCrunch
  • EUR/USD is in a main bear trend but bulls are trying to create a counter move up started on Wednesday.  
  • EUR/USD retraced down about 50 pips from daily highs but bears were not able to have a sustained breakout below 1.1365 support and the 200-period simple moving average. Bulls see this as a buying opportunity to target 1.1400 and 1.1430 August 14 high.  
  • A sustained bear breakout below 1.1365 would invalidate the counter-trend bullish scenario.

EUR/USD 15-minute chart  

Spot rate:             1.1368
Relative change:   0.20%  
High:                    1.1409
Low:                     1.1335

Trend:                  Bearish  

Resistance 1:  1.1400 figure
Resistance 2:  1.1430 August 14 high  
Resistance 3:  1.1483 intraday swing high (August 10)

Support 1:   1.1365 August 13 low
Support 2:   1.1347 intraday swing high (August 15)
Support 3:   1.1300 figure  
Support 4:   1.1250 May 24, 2017 high
Support 5:   1.1178 June 27, 2017 low