15 Nov 2019
EUR/USD Technical Analysis: Corrective bounce challenges weekly highs near 1.1040 level
- EUR/USD is picking up steam in the second half of the week.
- The correction can extend to the 1.1055/75 resistance zone.
EUR/USD daily chart
The Euro, on the daily chart, is trading in a bear trend below the 100 and 200 daily simple moving averages (DMAs). This Friday the market is correcting to the upside challenging the weekly high and the 50 DMA.
EUR/USD four-hour chart
The Fiber is correcting as its broke above the 50 SMA and is likely en route towards the 1.1055/75 resistance zone near the 200 SMA.
EUR/USD 30-minute chart
EUR/USD is trading above its main SMAs on the 30-minute chart, suggesting bullish momentum in the near term. Support is seen at the 1.1020 and 1.0995 price levels, according to the Technical Confluences Indicator.
Additional key levels