Technical Analysis
19.09.2024, 11:45

EUR/USD is trading near a 3-week high

Today, the EUR/USD pair is mainly growing in a wide range of 1.1070-1.1180, having regained almost all the positions lost during yesterday's American trading. Note that yesterday, the pair did not reach a 3-week high of 1.1190 for a long time.  On the hourly chart, EUR/USD is testing the moving average line MA (200) H1 (1.1080) and on the four-hour chart it is trading above MA (200) H4 (1.1055). Technically speaking, the resistance of 1.1200 may keep EUR/USD from further growth. If this level is passed, the pair may rise to 1.1240. The lower bound of 1.1070 represents a strong support level. The most likely range of the pair's movement for today may be hidden within the existing range of 1.1070-1.1200


Resistance levels are: 1.1190-1.1200, 1.1240 1.1275


Support levels are: 1.1070 1.1000 1.0950


The main scenario for the pair's promotion assumes a breakout of the resistance of 1.1190-1.1200 (Aug 23-26 and Sept 18 highs) and there may be an increase to 1.1240 (July 21’  2023 high). 

An alternative scenario implies a breakout of the session low of 1.1070 and may be a decrease to 1.1000 (Sept 11 low)


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

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