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Dec 17, 2018
EUR/USD Technical Analysis: Contracting triangle has been breached to the downside
- The EUR/USD pair closed at 1.1303, confirming a symmetrical triangle breakdown.
- The bearish pattern indicates that the sell-off from the September high of 1.1815 has resumed and could yield a drop to the recent low of 1.1215. A close below that level would open up downside toward the psychological support of 1.10.
- The triangle breakdown is backed by a bearish reading on the 14-day relative strength index (RSI) and the downward sloping 5- and 10-day exponential moving averages.
- The 55-day EMA is the level to beat for the bulls, as the EMA caught highs on a closing basis in October, November and earlier this month.
Daily Chart
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Trend: Bearish
EUR/USD
Overview:
Today Last Price: 1.1308
Today Daily change: 7.0 pips
Today Daily change %: 0.0619%
Today Daily Open: 1.1301
Trends:
Previous Daily SMA20: 1.136
Previous Daily SMA50: 1.1399
Previous Daily SMA100: 1.1498
Previous Daily SMA200: 1.1717
Levels:
Previous Daily High: 1.1374
Previous Daily Low: 1.1269
Previous Weekly High: 1.1444
Previous Weekly Low: 1.1269
Previous Monthly High: 1.15
Previous Monthly Low: 1.1216
Previous Daily Fibonacci 38.2%: 1.1309
Previous Daily Fibonacci 61.8%: 1.1334
Previous Daily Pivot Point S1: 1.1256
Previous Daily Pivot Point S2: 1.1211
Previous Daily Pivot Point S3: 1.1152
Previous Daily Pivot Point R1: 1.136
Previous Daily Pivot Point R2: 1.1419
Previous Daily Pivot Point R3: 1.1464