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31 Oct 2019
EUR/USD technical analysis: Euro trading off the October highs in the New York session
- The Euro is consolidating the Fed-inspired gains.
- A break above 1.1165 resistance is necessary to open the doors to more gains.
EUR/USD daily chart
On the daily chart, the Euro is trading in a downtrend below the 200-day simple moving average (DMA). This Thursday, the market is attempting to break above the October high at the 1.1179 level.
EUR/USD four-hour chart
EUR/USD, on the four-hour chart, is trading above its main SMAs suggesting bullish momentum in the medium term. The level to beat for bulls is the 1.1165 resistance. A break above the level can lead the market to 1.1181/1.1193, 1.1220 and 1.1255 resistances, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading below the 50 SMAs on the 30-minute chart, suggesting a consolidation of the recent move up. Support is seen at the 1.1133 and 1.1113/20 price level.
Additional key levels