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   “¢   The pair’s intraday positive momentum faced rejection near 100-hour SMA, though bulls have managed to stick to modest daily gains just above mid-1.1300s.

   “¢   Technical indicators on 4-hourly/daily charts haven’t been able to gain any positive traction and have already started losing positive momentum on the 1-hourly chart.

   “¢   However, the recent price action between two converging trend-lines, over the past one week or so, constituted towards the formation of a bullish falling wedge chart pattern.

   “¢   Hence, it would be prudent to wait for a convincing breakthrough the mentioned trading range before traders start positioning for the pair’s next leg of directional move.
 

EUR/USD 1-hourly chart

EUR/USD

Overview:
       Today Last Price:  1.1366
       Today Daily change:  36  pips
       Today Daily change %:  0.318%
       Today Daily Open:  1.133
Trends:
       Previous Daily SMA20:  1.1366
       Previous Daily SMA50:  1.1488
       Previous Daily SMA100:  1.1548
       Previous Daily SMA200:  1.1791
Levels:
       Previous Daily High:  1.1422
       Previous Daily Low:  1.1328
       Previous Weekly High:  1.1473
       Previous Weekly Low:  1.1328
       Previous Monthly High:  1.1625
       Previous Monthly Low:  1.1302
       Previous Daily Fibonacci 38.2%:  1.1364
       Previous Daily Fibonacci 61.8%:  1.1386
       Previous Daily Pivot Point S1:  1.1298
       Previous Daily Pivot Point S2:  1.1266
       Previous Daily Pivot Point S3:  1.1204
       Previous Daily Pivot Point R1:  1.1392
       Previous Daily Pivot Point R2:  1.1454
       Previous Daily Pivot Point R3:  1.1487