Technical Analysis – EURUSD shows positive signs above 1.0500



EURUSD advanced above the 1.0500 in the previous couple of sessions, suggesting that the market is in a bullish mode in the short-term timeframe.

Regarding the trend, it is likely to remain on the upside as the price continues to stay above the 200-day simple moving average (SMA). The MACD oscillator is strengthening its bullish momentum above its trigger line in the positive region; however, the RSI is holding near the overbought territory, suggesting some losses.

An extension to the upside could meet the 1.0620 resistance level ahead of the next obstacle of 1.0780, taken from the high on May 30. Further up, resistance could run towards the 1.0900 psychological mark.

On the other hand, if the pair weakens, the 200-day SMA and the 20-day SMA around 1.0355 could provide immediate support ahead of the 1.0200 barrier. Even lower, the 1.0100 and the 1.0000 round numbers could worsen the outlook to bearish, opening the way towards the 0.9730 level.

In the long-term picture, the bearish sentiment changed after the jump above the 1.0500 handle and the 200-day SMA. Any moves below those levels may switch the outlook back to bearish.


Latest News

Technical Analysis – USDJPY jumps above a downtrend line


Fourth-quarter GDP print to ease sterling problems? - Forex News Preview



Daily Market Comment – Dollar soars, stocks dive after NFP shock; yen skids on BoJ rumours


Technical Analysis – EURUSD maintains bullish trend despite post-NFP crash

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.