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EUR/USD Price Analysis: Euro pressuring 2020 highs and nearing 1.1500 figure

  • EUR/USD bullish pressure remains unabated after the London close. 
  • The level to beat for bulls is the 1.1471 resistance.
 

EUR/USD weekly chart 

 
EUR/USD is reversing up sharply from 34-month lows as the spot is virtually erasing the 2019 losses in about three weeks of trading. There are no signs that the spot might slow down and a spike to the 2019 highs in the 1.1569/1.6000 price zone remains on the cards.
 

EUR/USD four-hour chart

 
EUR/USD is pressuring the 1.1471 resistance as the London session came to an end. As the bulls remain in control EUR/USD has room to climb towards the 1.1518 and 1.1566 price levels. Support can emerge near the 1.1400/1.1363 price zone and 1.1300 figure, according to the Technical Confluences Indicator.   
 
 
Resistance: 1.1471, 1.1518, 1.1566
Support: 1.1400, 1.1363, 1.1300
 

Additional key levels

EUR/USD

Overview
Today last price1.1439
Today Daily Change0.0133
Today Daily Change %1.18
Today daily open1.1306
 
Trends
Daily SMA201.0955
Daily SMA501.1039
Daily SMA1001.1062
Daily SMA2001.1101
 
Levels
Previous Daily High1.1355
Previous Daily Low1.1212
Previous Weekly High1.1355
Previous Weekly Low1.1027
Previous Monthly High1.1089
Previous Monthly Low1.0778
Daily Fibonacci 38.2%1.13
Daily Fibonacci 61.8%1.1266
Daily Pivot Point S11.1227
Daily Pivot Point S21.1148
Daily Pivot Point S31.1084
Daily Pivot Point R11.137
Daily Pivot Point R21.1434
Daily Pivot Point R31.1513

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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