EUR/USD technical analysis: Euro records its largest daily advance since January 2019

EUR/USD reaches its highest level in two weeks as the trade war damages the US Dollar.
The level to beat for bulls are seen at the 1.1220 and 1.1255 levels.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is reversing up from the 2019 low as the market is trading in a bear trend below its main daily simple moving averages (DSMAs). The Federal Reserve is now expected to cut rates more aggressively to counteract the damage of the US-China trade war.

EUR/USD 4-hour chart

EUR/USD broke above the 1.1174 resistance and the 100 SMA. The market is set to keep appreciating towards 1.1220, 1.1255 and 1.1285 resistances, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

This Monday the market recorded its largest daily advance since January 2019 as the bulls have been relentless. Support can be seen near 1.1174, 1.1135, 1.1121 and 1.1100 levels.

Additional key levels

EUR/USD

Overview
Today last price	1.1203
Today Daily Change	0.0095
Today Daily Change %	0.86
Today daily open	1.1108

Trends
Daily SMA20	1.1187
Daily SMA50	1.1236
Daily SMA100	1.1234
Daily SMA200	1.1301

Levels
Previous Daily High	1.1118
Previous Daily Low	1.107
Previous Weekly High	1.1164
Previous Weekly Low	1.1027
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1099
Daily Fibonacci 61.8%	1.1088
Daily Pivot Point S1	1.108
Daily Pivot Point S2	1.1051
Daily Pivot Point S3	1.1032
Daily Pivot Point R1	1.1127
Daily Pivot Point R2	1.1146
Daily Pivot Point R3	1.1175

Author

Flavio Tosti

Independent Analyst

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