#EURUSD @ 0.99844 reverses three daily gains in a row on Monday. (Pivot Orderbook analysis)
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- EUR/USD reverses three daily gains in a row on Monday.
- There is an initial resistance at the 7-month line near 1.0160.
The pair currently trades last at 0.99844.
The previous day high was 1.0037 while the previous day low was 0.9945. The daily 38.2% Fib levels comes at 1.0002, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.998, expected to provide support.
EUR/USD comes under some selling pressure and deflates below the parity region at the beginning of the week.
The pair seems to have embarked on a consolidative range ahead of the key FOMC event on Wednesday. Immediately to the upside comes the interim 55-day SMA at 1.0101 ahead of the key 7-month resistance line, today near 1.0160. A move beyond the latter is needed to mitigate the downside pressure and allow spot to confront the September high at 1.0197 (September 12) ahead of potential extra gains.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0722.
Technical Levels: Supports and Resistances
EURUSD currently trading at 0.9993 at the time of writing. Pair opened at 1.0017 and is trading with a change of -0.24 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9993 |
| 1 | Today Daily Change | 64.0000 |
| 2 | Today Daily Change % | -0.2400 |
| 3 | Today daily open | 1.0017 |
The pair is trading above its 20 Daily moving average @ 0.9987, below its 50 Daily moving average @ 1.0098 , below its 100 Daily moving average @ 1.0318 and below its 200 Daily moving average @ 1.0731
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9987 |
| 1 | Daily SMA50 | 1.0098 |
| 2 | Daily SMA100 | 1.0318 |
| 3 | Daily SMA200 | 1.0731 |
The previous day high was 1.0037 while the previous day low was 0.9945. The daily 38.2% Fib levels comes at 1.0002, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.998, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.9963, 0.9908, 0.9871
- Pivot resistance is noted at 1.0054, 1.0091, 1.0146
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0037 |
| Previous Daily Low | 0.9945 |
| Previous Weekly High | 1.0198 |
| Previous Weekly Low | 0.9945 |
| Previous Monthly High | 1.0369 |
| Previous Monthly Low | 0.9901 |
| Daily Fibonacci 38.2% | 1.0002 |
| Daily Fibonacci 61.8% | 0.9980 |
| Daily Pivot Point S1 | 0.9963 |
| Daily Pivot Point S2 | 0.9908 |
| Daily Pivot Point S3 | 0.9871 |
| Daily Pivot Point R1 | 1.0054 |
| Daily Pivot Point R2 | 1.0091 |
| Daily Pivot Point R3 | 1.0146 |
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