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
Today Last Price: 95.35
Today Daily change: -57 pips
Today Daily change %: -0.594%
Today Daily Open: 95.92
Previous Daily SMA20: 96.69
Previous Daily SMA50: 96.77
Previous Daily SMA100: 96
Previous Daily SMA200: 94.79
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