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EUR/USD Technical Analysis: Euro bears eyeing 1.1500 figure ahead of Fed's Powell Speech

EUR/USD Daily chart

  • EUR/USD is trading in a bear trend below the 200-period simple moving average (SMA). 
  • Bulls broke above the 1.1500 figure and the 100 SMA following dovish comments from Fed’s Bostic on Wednesday. 
  • Fed's Powell Speech at 17.00 GMT (Thursday) might lead to high volatility in the forex market.

EUR/USD 4-hour chart

  • EUR/USD is trading above its main SMAs as bulls are challenging the 2019 highs.

EUR/USD 30-minute chart

  • The 1.1540 and 1.1560 resistances are currently capping bullish advances as traders are testing the 50 SMA.
  • Although bulls might give another try at the 1.1540-1.1560 resistances, EUR/USD bears are set to come back and initially drive the market to 1.1500 and then to 1.1440 and 1.1410 in the near future.

Additional key levels

EUR/USD

Overview:
    Today Last Price: 1.1521
    Today Daily change: -33 pips
    Today Daily change %: -0.286%
    Today Daily Open: 1.1554
Trends:
    Previous Daily SMA20: 1.1408
    Previous Daily SMA50: 1.1381
    Previous Daily SMA100: 1.1478
    Previous Daily SMA200: 1.1635
Levels:
    Previous Daily High: 1.1558
    Previous Daily Low: 1.1435
    Previous Weekly High: 1.1586
    Previous Weekly Low: 1.1309
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Previous Daily Fibonacci 38.2%: 1.1511
    Previous Daily Fibonacci 61.8%: 1.1482
    Previous Daily Pivot Point S1: 1.1473
    Previous Daily Pivot Point S2: 1.1392
    Previous Daily Pivot Point S3: 1.135
    Previous Daily Pivot Point R1: 1.1597
    Previous Daily Pivot Point R2: 1.1639
    Previous Daily Pivot Point R3: 1.172

 

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