EUR/USD Technical Analysis: Strong intraday up-move stalls near a descending trend-line resistance
• The pair stalled its strong intraday positive momentum near a short-term descending trend-line resistance, extending from Oct. 22 daily swing high through tops set on Nov. 7-19-20.
• Slightly overbought conditions on the 1-hourly chart seemed to be the only factor holding participants from placing aggressive bullish bets and keeping a lid on any further up-move.
• Meanwhile, short-term oscillators on 4-hourly/daily charts have started gaining positive momentum and thus, support prospects for an extension of the positive momentum.
• However, it would be prudent to wait for a convincing breakthrough the mentioned trend-line hurdle before positioning for additional gains towards the key 1.1500 psychological mark.
EUR/USD 4-hourly chart
-636795209972720920.png)
EUR/USD
Overview:
Today Last Price: 1.1397
Today Daily change: 52 pips
Today Daily change %: 0.458%
Today Daily Open: 1.1345
Trends:
Previous Daily SMA20: 1.1357
Previous Daily SMA50: 1.1443
Previous Daily SMA100: 1.1527
Previous Daily SMA200: 1.176
Levels:
Previous Daily High: 1.1382
Previous Daily Low: 1.132
Previous Weekly High: 1.1402
Previous Weekly Low: 1.1267
Previous Monthly High: 1.15
Previous Monthly Low: 1.1216
Previous Daily Fibonacci 38.2%: 1.1343
Previous Daily Fibonacci 61.8%: 1.1358
Previous Daily Pivot Point S1: 1.1316
Previous Daily Pivot Point S2: 1.1287
Previous Daily Pivot Point S3: 1.1254
Previous Daily Pivot Point R1: 1.1378
Previous Daily Pivot Point R2: 1.1411
Previous Daily Pivot Point R3: 1.144