Home EUR/USD technical analysis: Fiber trading below 1.1380 post-US GDP
FXStreet News

EUR/USD technical analysis: Fiber trading below 1.1380 post-US GDP

FX Street
Updated:
  • EUR/USD is consolidating in the near term.
  • Supports are at 1.1340 and 1.1310.

The US Gross Domestic Product Q1 came in line with expectations. The USD is gaining some strength against the euro.

EUR/USD daily chart

EUR/USD is trading above its main daily simple moving averages (DSMAs) suggesting that the bear can potentially be at risk.


EUR/USD 4-hour chart

The market is consolidating between 1.1340 and 1.1400 figure. If 1.1340 gets broken to the downside, the next support can be at 1.1310 according to the Technical Confluences Indicator.


EUR/USD 30-minute chart

EUR/USD is faltering  below 1.1380 resistance and its main SMAs suggesting a retracement down in the near term. According to the Technical Confluences Indicator, resistances are at the 1.1380 level and 1.1400 figure.

Additional key levels

 

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024