EUR/USD Technical Analysis: 5-wave pattern is keeping Euro supported near 1.1300 figure

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EUR/USD daily chart

  • EUR/USD is trading in a bear trend below the 200-day simple moving average (SMA). 


	EUR/USD Technical Analysis: 5-wave pattern is keeping Euro supported near 1.1300 figure

EUR/USD 4-hour chart

  • EUR/USD formed a 5-wave pattern suggesting that the move down might be about to reverse. 
  • EUR/USD also created a double bottom bull flag with November 15 low. 
  • The RSI is below the 50 line, MACD is bearish although the histogram is showing bullish divergence, the Stochastic indicator is deeply oversold. 


	EUR/USD Technical Analysis: 5-wave pattern is keeping Euro supported near 1.1300 figure

EUR/USD 30-minute chart

  • If bulls manage to hold the market near 1.1300 then 1.1320 and 1.1380 can be back on the cards. 
  • Alternatively, failure to hold 1.1300 can lead to a quick dive to the 2018 low. 


	EUR/USD Technical Analysis: 5-wave pattern is keeping Euro supported near 1.1300 figure

Additional key levels

EUR/USD

Overview:
    Today Last Price: 1.1292
    Today Daily change: -42 pips
    Today Daily change %: -0.371%
    Today Daily Open: 1.1334
Trends:
    Previous Daily SMA20: 1.1364
    Previous Daily SMA50: 1.1481
    Previous Daily SMA100: 1.1544
    Previous Daily SMA200: 1.1785
Levels:
    Previous Daily High: 1.1384
    Previous Daily Low: 1.1326
    Previous Weekly High: 1.1473
    Previous Weekly Low: 1.1328
    Previous Monthly High: 1.1625
    Previous Monthly Low: 1.1302
    Previous Daily Fibonacci 38.2%: 1.1348
    Previous Daily Fibonacci 61.8%: 1.1362
    Previous Daily Pivot Point S1: 1.1312
    Previous Daily Pivot Point S2: 1.1289
    Previous Daily Pivot Point S3: 1.1253
    Previous Daily Pivot Point R1: 1.137
    Previous Daily Pivot Point R2: 1.1406
    Previous Daily Pivot Point R3: 1.1429

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