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25 Jun 2018
EUR/USD Technical Analysis: Euro showing bullish potential despite trade fears
- Hourly indicators are leaning overbought, short traders are primed for an entry if market sentiment continues to head south after the weekend's trade war developments.
- German IFO survey results could edge out the short side if results are positive.
- The Euro's double-bottom on larger timeframes is beginning to firm up.
EUR/USD Chart, 1-Hour
| Spot rate: | 1.1653 |
| Relative change: | -0.06% |
| High: | 1.1672 |
| Low: | 1.1646 |
| Trend: | Bullish |
| Support 1: | 1.1630 (50-hour EMA) |
| Support 2: | 1.1571 (61.8% 1-week Fibo level) |
| Support 3: | 1.1508 (one week low) |
| Resistance 1: | 1.1675 (previous week high) |
| Resistance 2: | 1.1720 (R2 daily pivot) |
| Resistance 3: | 1.1851 (one month high) |