EUR/USD is attempting to break beyond the 20-period moving average at 1.15950. With a satisfactory outcome to this test, EUR/USD will move on to the next resistance level, which is at 1.16100. In terms of RSI, it’s in the moderate range, which means there’s opportunity for more gains if the correct triggers occur. In order to reach the next level of resistance at 1.1630, EUR/USD has to clear resistance at 1.16100 first. The 50 EMA at 1.16400 will be tested if the price rises over this level. 1.1660 is a possible target for the EUR/USD if it breaks above it.
The support rests at 1.15840 with resistance at 1.16110 which the price is moving below the Pivot Point at 1.15960 located between the lines. The EMA of 10 is moving in a bullish bias in the ascendant channel below the EMA of 100 and the EMA of 200. The RSI is moving toward the level of 70, the MACD histogram is in positive territory and a crossover buy signal is already generated. The Stochastic is moving in high ranges. The ADX is not showing a clear signal.
• There is resistance at 1.16110, followed by resistance at 1.16230 and 1.16380.
• There is support at 1.15840 Below, there is 1.15690 and 1.15570.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
EURUSD analysis for 09.11.2021
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