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EUR/USD Technical Analysis: Steady recovery further beyond 1.1300 handle likely to get sold into

   •  The pair has been steadily recovering along an intraday ascending trend-channel and is now holding steady above 23.6% Fibonacci retracement level of last week's downfall.

EUR/USD 15-mins. chart

   •  However, given Friday's bearish breakthrough a symmetrical triangular formation on the daily chart, any subsequent recovery is more likely to be seen as an opportunity to sell.

Daily chart

   •  Technical indicators on the 1-hourly chart have been gaining traction and supported the recovery move, though bearish oscillators on 4-hourly/daily charts might cap additional gains.

   •  The set-up clearly suggests that the near-term bearish bias might still be far from over and a move towards the 1.1330 resistance is likely to get sold into amid relatively thin economic docket.

EUR/USD

Overview:
    Today Last Price: 1.1318
    Today Daily change: 17 pips
    Today Daily change %: 0.150%
    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

 

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