EUR/USD Technical Analysis: Remains capped below 50% Fibo. level post-Draghi

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   •  Barring an early European session dip, the pair has been oscillating within a narrow trading band above the 1.1400 handle/just below 50% Fibonacci retracement level of the 1.1570-1.1289 recent downfall.

   •  Given the latest leg of an upsurge to near three-week tops, the consolidative price action constitutes towards the formation of a bullish continuation – rectangle chart pattern on the 1-hourly chart.

   •  The fact that the pair remains well above its important intraday moving averages – – 50, 100 & 200-hour SMA, reinforces the constructive outlook and support prospects for an extension of the positive move.

   •  Meanwhile, technical indicators on hourly charts maintain their bullish stance and have just started gaining positive traction on the daily chart, and further add credence to the near-term positive bias.

   •  Bullish traders, however, are likely to wait for a sustained move beyond the 1.1430 region (50% Fibo.) before positioning for any further appreciating move amid a more dovish tone by the ECB President Mario Draghi.

EUR/USD 1-hourly chart


	EUR/USD Technical Analysis: Remains capped below 50% Fibo. level post-Draghi

EUR/USD

Overview:
    Today Last Price: 1.1418
    Today Daily change %: 0.03%
    Today Daily Open: 1.1415
Trends:
    Daily SMA20: 1.1418
    Daily SMA50: 1.139
    Daily SMA100: 1.1451
    Daily SMA200: 1.1579
Levels:
    Previous Daily High: 1.1418
    Previous Daily Low: 1.13
    Previous Weekly High: 1.1418
    Previous Weekly Low: 1.1289
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Daily Fibonacci 38.2%: 1.1373
    Daily Fibonacci 61.8%: 1.1345
    Daily Pivot Point S1: 1.1337
    Daily Pivot Point S2: 1.1259
    Daily Pivot Point S3: 1.1218
    Daily Pivot Point R1: 1.1456
    Daily Pivot Point R2: 1.1497
    Daily Pivot Point R3: 1.1575

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