EUR/USD Technical Analysis: Diamond pattern bull trap above 1.1430 resistance as Euro is set to revisit 1.1320 level by Friday

25

EUR/USD daily chart

  • EUR/USD is trading below its main simple moving averages (SMAs) on the daily chart. 


	EUR/USD Technical Analysis: Diamond pattern bull trap above 1.1430 resistance as Euro is set to revisit 1.1320 level by Friday

EUR/USD 4-hour chart

  • EUR/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart. 
  • EUR/USD bulls failed to break above the 200 SMA and 1.1430 resistance. The RSI indicator is near 50, the MACD and Stochastic indicators are both bearish.
  • The target for bears is the 1.1320 level and 1.1215 if the bears gather enough steam.


	EUR/USD Technical Analysis: Diamond pattern bull trap above 1.1430 resistance as Euro is set to revisit 1.1320 level by Friday

EUR/USD 30-minute chart

  • EUR/USD formed a diamond pattern as the market is trading below its 100 and 200 SMA. 
  • Technical indicators are all in bearish territories. 
  • All suggesting that a drop to 1.1320 could potentially be reached by Friday. 


	EUR/USD Technical Analysis: Diamond pattern bull trap above 1.1430 resistance as Euro is set to revisit 1.1320 level by Friday

Additional key levels at a glance:

EUR/USD

Overview:
    Last Price: 1.1387
    Daily change: 18 pips
    Daily change: 0.158%
    Daily Open: 1.1369
Trends:
    Daily SMA20: 1.1368
    Daily SMA50: 1.1504
    Daily SMA100: 1.1558
    Daily SMA200: 1.1806
Levels:
    Daily High: 1.1473
    Daily Low: 1.1358
    Weekly High: 1.142
    Weekly Low: 1.1216
    Monthly High: 1.1625
    Monthly Low: 1.1302
    Daily Fibonacci 38.2%: 1.1402
    Daily Fibonacci 61.8%: 1.1429
    Daily Pivot Point S1: 1.1327
    Daily Pivot Point S2: 1.1284
    Daily Pivot Point S3: 1.1211
    Daily Pivot Point R1: 1.1442
    Daily Pivot Point R2: 1.1515
    Daily Pivot Point R3: 1.1558

LEAVE A REPLY

Please enter your comment!
Please enter your name here