#EURUSD @ 0.99927 regains composure and surpasses the parity level. (Pivot Orderbook analysis)
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- EUR/USD regains composure and surpasses the parity level.
- Extra consolidation appears favoured for the time being.
The pair currently trades last at 0.99927.
The previous day high was 1.0059 while the previous day low was 0.9911. The daily 38.2% Fib levels comes at 0.9968, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0003, expected to provide resistance.
EUR/USD fades part of Thursday’s strong sell-off and manages to regain the area above the key parity level at the end of the week.
Further consolidation looks the most likely scenario in EUR/USD in the near term at least, always within the 1.0100-0.9900 range and ahead of the key ECB and FOMC events later in the month.
The breakout of the weekly high at 1.0090 (August 26) could spark further gains to 1.0202 (August17 high). Alternatively, the 0.9900 neighbourhood is expected to hold the bearish impulse for the time being.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0794.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0006 at the time of writing. Pair opened at 0.9946 and is trading with a change of 0.6 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0006 |
| 1 | Today Daily Change | 87.0000 |
| 2 | Today Daily Change % | 0.6000 |
| 3 | Today daily open | 0.9946 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0096, 50 SMA 1.0184, 100 SMA @ 1.0396 and 200 SMA @ 1.0803.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0096 |
| 1 | Daily SMA50 | 1.0184 |
| 2 | Daily SMA100 | 1.0396 |
| 3 | Daily SMA200 | 1.0803 |
The previous day high was 1.0059 while the previous day low was 0.9911. The daily 38.2% Fib levels comes at 0.9968, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0003, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9885, 0.9824, 0.9736
- Pivot resistance is noted at 1.0033, 1.0121, 1.0182
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0059 |
| Previous Daily Low | 0.9911 |
| Previous Weekly High | 1.0090 |
| Previous Weekly Low | 0.9901 |
| Previous Monthly High | 1.0369 |
| Previous Monthly Low | 0.9901 |
| Daily Fibonacci 38.2% | 0.9968 |
| Daily Fibonacci 61.8% | 1.0003 |
| Daily Pivot Point S1 | 0.9885 |
| Daily Pivot Point S2 | 0.9824 |
| Daily Pivot Point S3 | 0.9736 |
| Daily Pivot Point R1 | 1.0033 |
| Daily Pivot Point R2 | 1.0121 |
| Daily Pivot Point R3 | 1.0182 |
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