#EURUSD @ 1.09195 remains sluggish on Good Friday holiday, stays on the way to three-week uptrend., @nehcap view: Further upside expected (Pivot Orderbook analysis)
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- EUR/USD remains sluggish on Good Friday holiday, stays on the way to three-week uptrend.
- Sustained trading above the key support lines, 100-SMA keeps Euro buyers hopeful.
- US Nonfarm Payrolls (NFP) should match downbeat forecasts to push back sellers.
The pair currently trades last at 1.09195.
The previous day high was 1.0938 while the previous day low was 1.0884. The daily 38.2% Fib levels comes at 1.0917, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0905, expected to provide support.
EUR/USD treads water around 1.0930 key upside hurdle during the Good Friday holiday morning in Europe. In doing so, the Euro pair remains well-set to post a three-week winning streak while trading successfully above the 100-SMA and the key support lines stretched from March. However, the market’s cautious mood ahead of the US Nonfarm Payrolls (NFP) seems to challenge the pair traders of late.
Also read: EUR/USD eyes fourth weekly gains above 1.0900 despite US Dollar’s bounce ahead of US NFP
Apart from the sustained trading beyond the 100-SMA and two support lines stretched from the last month, a mostly steady condition of the RSI (14) also suggests the continuation of the EUR/USD pair’s advances.
However, a clear break of the two-week-long horizontal hurdle surrounding 1.0930 becomes necessary for the EUR/USD bulls before challenging the latest peak of 1.0973.
Following that, a run-up towards the yearly high of around 1.1035 and then to the March 2022 high of near 1.1185 can’t be ruled out.
Alternatively, pullback moves may aim for a three-week-long support line, close to 1.0870, amid bearish MACD signals.
Even so, the ascending trend line from March 24 and the 100-SMA, near 1.0835 and 1.0810 in that order, can challenge the EUR/USD bears before giving them control.
Trend: Further upside expected
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0921 at the time of writing. Pair opened at 1.0923 and is trading with a change of -0.02% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0921 |
| 1 | Today Daily Change | -0.0002 |
| 2 | Today Daily Change % | -0.02% |
| 3 | Today daily open | 1.0923 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.079, 50 SMA 1.0734, 100 SMA @ 1.0674 and 200 SMA @ 1.035.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0790 |
| 1 | Daily SMA50 | 1.0734 |
| 2 | Daily SMA100 | 1.0674 |
| 3 | Daily SMA200 | 1.0350 |
The previous day high was 1.0938 while the previous day low was 1.0884. The daily 38.2% Fib levels comes at 1.0917, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0905, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 1.0892, 1.0862, 1.0839
- Pivot resistance is noted at 1.0946, 1.0968, 1.0999
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0938 |
| Previous Daily Low | 1.0884 |
| Previous Weekly High | 1.0926 |
| Previous Weekly Low | 1.0745 |
| Previous Monthly High | 1.0930 |
| Previous Monthly Low | 1.0516 |
| Daily Fibonacci 38.2% | 1.0917 |
| Daily Fibonacci 61.8% | 1.0905 |
| Daily Pivot Point S1 | 1.0892 |
| Daily Pivot Point S2 | 1.0862 |
| Daily Pivot Point S3 | 1.0839 |
| Daily Pivot Point R1 | 1.0946 |
| Daily Pivot Point R2 | 1.0968 |
| Daily Pivot Point R3 | 1.0999 |
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