fxs_header_sponsor_anchor

Analysis

EURUSD – Euro In a Solid Uptrend Vs US Dollar

Key Highlights                             

  • The Euro made a nice upside move against the US Dollar due to positive sentiment.

  • The EUR/USD pair has settled above a major resistance area at 1.1280 on the 4 hours chart.

 

EURUSD Technical Analysis

The Euro climbed higher and broke a crucial resistance at 1.1280 vs the US Dollar. The EUR/USD pair is currently trading above 1.1400 and looks set for more gains.

This past week was eventful for EUR/USD, as the pair managed to gain strength and broke a few resistances like 1.1240 and 1.1280.

It called for a sharp rally and the pair rose to a new monthly high of 1.1444. The pair is currently consolidating gains and trading above the 1.1400 handle.

There is a contracting triangle pattern with support at 1.1410 formed on the 4-hours chart. As long as the triangle support is intact, there are chances of more gains above 1.1440. On the downside, the next major support is at 1.1350, followed by the 1.1280 barrier.

 

Interested in EURUSD technicals? Check out the key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.