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TODAY EURUSD SIGNAL : EURUSD Price Analysis Bulls approach 1.0480-90 key resistance zone

TODAY EURUSD SIGNAL

TODAY EURUSD SIGNAL : EURUSD Price Analysis Bulls approach 1.0480-90 key resistance zone

  • EUR/USD rises for the third consecutive day, around intraday high of late.
  • 13-day-old horizontal area, also comprising 50-SMA and monthly resistance line challenge further upside.
  • Bullish MACD signals join weekly support line to keep buyers hopeful.

TODAY EURUSD SIGNAL : EUR/USD grinds higher around daily top during the third positive daily performance from a five-year low. In doing so, the major currency pair rises towards a short-term key resistance area. That said, the quote takes rounds to 1.0445-50 by the press time of Tuesday’s Asian session.

That said, the pair’s latest rebound could be linked to the firmer MACD signals and a three-day-long rising support line, near 1.0410 at the latest.

However, a convergence of the 50-SMA, descending trend line from April 21 and a two-week-long horizontal region challenge the EUR/USD upside moves around 1.0480-90.

TODAY EURUSD SIGNAL : In a case where EUR/USD rises past the 1.0490 hurdle, the 1.0500 threshold could challenge the run-up towards the monthly high near 1.0640.

Meanwhile, pullback moves can test the immediate support line, near 1.0410, before directing EUR/USD prices towards the 1.0350-40 support area including multiple lows marked since 2017.

Should EUR/USD prices remain weak past 1.0340, a downward trajectory towards the 1.0300 and the 1.0200 thresholds becomes imminent.

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FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

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Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

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