EUR/USD Technical Analysis: Euro has charted a bull flag
Euro's pullback from the Jan. 9 high of 1.1570 could end refreshing the rally from the Jan. 2 low of 1.1306.
- As seen above, the currency has charted a bull flag, which is a bullish continuation pattern. Put simply, it is a pause which often ends up accelerating the preceding bullish move.
- A break above the upper edge of the flag, currently at 1.15, would open the doors to 1.1694 (target as per the measured move method). On the way higher, the currency pair could face stiff resistance at 1.1570 (Jan. 9 high).
- The prospects of bull breakout would drop sharply if the immediate support at 1.14 is breached.
Trend: Bullish above 1.15
Today Last Price: 1.1478
Today Daily change: 9.0 pips
Today Daily change %: 0.0785%
Today Daily Open: 1.1469
Previous Daily SMA20: 1.1429
Previous Daily SMA50: 1.1385
Previous Daily SMA100: 1.1474
Previous Daily SMA200: 1.1623
Previous Daily High: 1.1484
Previous Daily Low: 1.145
Previous Weekly High: 1.1571
Previous Weekly Low: 1.1396
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Previous Daily Fibonacci 38.2%: 1.1471
Previous Daily Fibonacci 61.8%: 1.1463
Previous Daily Pivot Point S1: 1.1452
Previous Daily Pivot Point S2: 1.1435
Previous Daily Pivot Point S3: 1.1419
Previous Daily Pivot Point R1: 1.1485
Previous Daily Pivot Point R2: 1.1501
Previous Daily Pivot Point R3: 1.1518