EUR/USD Technical Analysis: Euro reversing weekly losses as Fed’s Powell disappoints the market – 1.1375 bull target achieved

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EUR/USD daily chart

  • EUR/USD is trading in a bear trend below its 200-day simple moving average (SMA).
  • Fed’s Powell said that that there was no pre-set policy path sending the USD sharply lower across the board.


	EUR/USD Technical Analysis: Euro reversing weekly losses as Fed’s Powell disappoints the market - 1.1375 bull target achieved

EUR/USD 4-hour chart

  • Although EUR/USD is trading in a bear trend, the bears are likely exhausted as the market is oversold.
  • The major resistance to the upside at 1.1325 and 1.1375 level have been reached.
  • The RSI is above 50, MACD is slowly turning bullish and the Stochastic indicator is finally exiting the oversold zone.


	EUR/USD Technical Analysis: Euro reversing weekly losses as Fed’s Powell disappoints the market - 1.1375 bull target achieved

EUR/USD 30-minute chart

  • EUR/USD is now testing the 200 SMA as the market is challenging the 1.1340 level.
  • The 1.1300 and 1.1260 levels should become support and weather bearish attacks.
  • The weekly target for bulls is likely the 1.1430 level. 


	EUR/USD Technical Analysis: Euro reversing weekly losses as Fed’s Powell disappoints the market - 1.1375 bull target achieved

Additional key levels

EUR/USD

Overview:
    Today Last Price: 1.1345
    Today Daily change: 49 pips
    Today Daily change %: 0.434%
    Today Daily Open: 1.1296
Trends:
    Previous Daily SMA20: 1.1362
    Previous Daily SMA50: 1.1473
    Previous Daily SMA100: 1.154
    Previous Daily SMA200: 1.178
Levels:
    Previous Daily High: 1.1346
    Previous Daily Low: 1.1277
    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%: 1.1303
    Previous Daily Fibonacci 61.8%: 1.1319
    Previous Daily Pivot Point S1: 1.1267
    Previous Daily Pivot Point S2: 1.1238
    Previous Daily Pivot Point S3: 1.1199
    Previous Daily Pivot Point R1: 1.1336
    Previous Daily Pivot Point R2: 1.1375
    Previous Daily Pivot Point R3: 1.1404

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