Technical Analysis
04.12.2020, 04:55

EUR/USD is trading near the high since April 2018

Yesterday the EUR/USD pair was trading higher and closed the day in positive territory around $1.2145. Today, it traded in a narrow range of $1.2135-50, staying near the high since April 2018. On the hourly chart, EUR/USD is still trading above the moving average MA (200) H1 ($1.1975). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

  • Resistances levels are at: $1.2170, $1.2200, $1.2300

  • Support levels are at: $1.2100, $1.2040, $1.1960

Probably, the main scenario - is continued growth to $1.2170 (Dec 3 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a fall to $1.1840 (Nov 24 low).


Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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