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.
• 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