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EUR/USD Technical Analysis: Holds above 200-hour SMA amid cautious trade ahead of ECB

   •  Over the one month or so the pair has been oscillating between two-converging trend-lines forming a symmetrical triangle on the daily chart.

   •  Against the backdrop of the recent fall since late-Sept., the contracting wedge constituted toward the formation of as a bearish continuation pattern - Pennant.

EUR/USD daily chart

   •  Conversely, the pair seems to have formed a firm base near 200-hour SMA and technical indicators have been gaining positive traction on the 1-hourly chart.

1-hourly chart

   •  Adding to this, neutral technical indicators on 4-hourly/daily charts further warrant caution before placing any aggressive bets ahead of the ECB announcement.


    Today Last Price: 1.1373
    Today Daily change: 2.0 pips
    Today Daily change %: 0.0176%
    Today Daily Open: 1.1371
    Previous Daily SMA20: 1.1364
    Previous Daily SMA50: 1.1407
    Previous Daily SMA100: 1.1504
    Previous Daily SMA200: 1.1728
    Previous Daily High: 1.1388
    Previous Daily Low: 1.1314
    Previous Weekly High: 1.1424
    Previous Weekly Low: 1.1311
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.136
    Previous Daily Fibonacci 61.8%: 1.1342
    Previous Daily Pivot Point S1: 1.1328
    Previous Daily Pivot Point S2: 1.1285
    Previous Daily Pivot Point S3: 1.1255
    Previous Daily Pivot Point R1: 1.1401
    Previous Daily Pivot Point R2: 1.1431
    Previous Daily Pivot Point R3: 1.1474


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