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EUR/USD Technical Analysis: Euro bulls going for the breakout above 1.1500 figure ahead of the FOMC minutes

EUR/USD daily chart

  • EUR/USD is trading in a bear trend below the 200 SMA.
  • EUR/USD is breaking above the 100 SMA as Fed’s Bostic is open to cutting rates. 
  • The FOMC minutes scheduled at 19:00 GMT will most likely provide volatility in the forex market.

EUR/USD 4-hour chart

  • EUR/USD is nearing 1.1540 resistance.

EUR/USD  30-minute chart

  • Bulls are trying to generate a breakout as they strongly broke above the 1.1500 figure. The next hurdle to overcome is the 1.1540 resistance.
  • Since the main trend is bearish sellers might come back soon with targets to the downside seen near 1.1410 and the 1.1350 level.

Additional key levels

Dollar Index Spot

Overview:
    Today Last Price: 95.35
    Today Daily change: -57 pips
    Today Daily change %: -0.594%
    Today Daily Open: 95.92
Trends:
    Previous Daily SMA20: 96.69
    Previous Daily SMA50: 96.77
    Previous Daily SMA100: 96
    Previous Daily SMA200: 94.79
Levels:
    Previous Daily High: 96.03
    Previous Daily Low: 95.69
    Previous Weekly High: 96.96
    Previous Weekly Low: 95.82
    Previous Monthly High: 97.71
    Previous Monthly Low: 96.06
    Previous Daily Fibonacci 38.2%: 95.9
    Previous Daily Fibonacci 61.8%: 95.82
    Previous Daily Pivot Point S1: 95.73
    Previous Daily Pivot Point S2: 95.54
    Previous Daily Pivot Point S3: 95.39
    Previous Daily Pivot Point R1: 96.07
    Previous Daily Pivot Point R2: 96.22
    Previous Daily Pivot Point R3: 96.41

 

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