EUR/USD: US data gave the greenback a lift

EUR/USD: US data gave the greenback a lift EUR/USD is rebounding from an immediate support marked by 23.6% Fibonacci retracement level of its latest leg of up-move from 1.1119 to 1.1910. There’s no notable progress in the pair, with the 4 hours chart showing that the price is unable to surpass a modestly bearish 20 SMA, currently around 1.1820, whilst…

Daily Technical Analysis: EUR/USD Breaks Above Massive 1.13 Resistance And Continues Uptrend

Daily Technical Analysis: EUR/USD Breaks Above Massive 1.13 Resistance And Continues Uptrend Currency pair EUR/USD The EUR/USD broke above the critical and important resistance levels at 1.13 (dotted orange and red lines) which invalidated the bearish wave structure. Price also has managed to finally break the sideways range which was indicated by support (blue) and…

Daily Technical Analysis: EUR/USD Bearish Reversal Challenges Long-Term Support Trend Line

Daily Technical Analysis: EUR/USD Bearish Reversal Challenges Long-Term Support Trend Line Currency pair EUR/USD The EUR/USD is testing the long-term support trend line (dark blue). Price will need to break below that support trend line before a potential new downtrend within wave 3 (brown) is possible. The EUR/USD invalidates wave 2 (brown) if price manages…