EUR/USD Technical Analysis: Euro bulls lift the market near 1.1700

By | June 29, 2018
  • EUR/USD bulls gained about 120 pips on Friday as they almost reached the 1.1700 level. 
  • The next target to the upside is likely located near the 1.1730 level, the 23.6% Fibonacci retracement from the mid-April-May bear move. A breakout above it would likely see an acceleration in the bull correction and might lead to a bullish reversal of the main current bear trend. 

EUR/USD 15-minute chart

Spot rate:              1.1684
Relative change:   1.00%  
High:                     1.1690
Low:                      1.1558

Trend: Bullish correction

Resistance 1: 1.1700 figure
Resistance 2: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Resistance 3: 1.1800 figure

Support 1: 1.1672 Wednesday’s high
Support 2: 1.1640 supply/demand level
Support 3: 1.1600 figure
Support 4: 1.1560 June 14 low
Support 5: 1.1527 current weekly low
Support 6: 1.1508 current 2018 low

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