EUR/USD is finally gaining upwards momentum and is currently trading at 0.9724. The intraday support levels are at 0.9597 and 0.9459. The near-term resistance areas are at 0.9812 and 0.9889. The previous two intraday closings indicate a further bullish momentum with the possibility of significant gains in the coming days.
EUR/USD Technical Outlook
The Stochastic, Bollinger bands and Relative Strength Index (RSI) have now turned neutral. The Average True Range (ATR) indicates low volatility, while the MACD is below the zero line. Despite the gains, the EURUSD pair is still below the 20, 50, and 100 period moving averages.
|
Stochastic |
Bollinger Bands |
ATR |
MACD |
RSI |
|
Neutral (39) |
Neutral (0.9721) |
0.0118 (Volatility Down) |
Below Zero (-0.0097) |
35 (Neutral) |
The moving average is an ideal indicator for analyzing the trend direction. Usually, when the moving average line remains above the current price, it indicates a resistance area. If the moving average line remains below the current price, it indicates a possible support area.
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EUR/USD Support and Resistance Levels – Short-Term
|
S 1 |
S 2 |
S 3 |
R 1 |
R 2 |
R 3 |
|
0.9597 |
0.9459 |
0.9382 |
0.9812 |
0.9889 |
1.0027 |
The above-mentioned support and resistance levels are static support and resistance levels. They are called static levels because they do not change with the market movement. These levels are drawn using trend lines.
Pivot Points
|
1 hour |
4 hours |
Daily |
Weekly |
Monthly |
|
0.9706 |
0.9663 |
0.9674 |
0.9802 |
1.0108 |
EURUSD Trading Ranges
EUR/USD Daily Trading Range: 0.9636 – 0.9737
EURUSD Weekly Trading Range: 0.9536 – 0.9751
EURUSD Monthly Trading Range: 0.9536 – 1.0198
EUR/USD Yearly Trading Range: 0.9536 – 1.1495
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EUR/USD Trading Idea – 29-SEP-2022
The current intraday price pattern of the EURUSD pair is bullish, which is in line with the FXDatapanel Algorithm. Most indicators have also turned from bearish to neutral, making the pair ideal for intraday buying entries using the following levels.
Signal Direction: Buy
Signal Timeframe: Daily
Entry: 0.9674
Stop-loss: 0.9493
Take Profit: 0.9851
EUR/USD Upcoming Levels to Monitor
The 0.9730 is a stiff resistance area, and bulls need an intraday closing above this level. Failing to achieve that will send the pair lower towards testing the 0.9700 and 0.9670 areas. On the upside, an intraday closing above 0.9760 will be a bullish signal, and the pair may test the 0.9800 and 0.9840 resistance areas.
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