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EUR/USD Technical Analysis: Awaits range breakout

  • The EUR/USD pair continues to trade within a narrowing price range. As of writing, the upper edge of the triangle is located at1.1421 and the lower edge is seen at1.1316.
  • The recent drop in the US-German yield differentials and the value of the EUR put options favors bull breakout, which, if confirmed, would confirm a bearish-to-bullish trend change and open the doors to a convincing move above 1.15 (100-day MA).
  • A triangle breakdown, however, would imply a continuation the sell-off from the September high of 1.1815 and allow a drop to the psychological level of 1.10.

Daily chart

EUR/USD

Overview:
    Today Last Price: 1.1366
    Today Daily change: -5.0 pips
    Today Daily change %: -0.0440%
    Today Daily Open: 1.1371
Trends:
    Previous Daily SMA20: 1.1364
    Previous Daily SMA50: 1.1407
    Previous Daily SMA100: 1.1504
    Previous Daily SMA200: 1.1728
Levels:
    Previous Daily High: 1.1388
    Previous Daily Low: 1.1314
    Previous Weekly High: 1.1424
    Previous Weekly Low: 1.1311
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.136
    Previous Daily Fibonacci 61.8%: 1.1342
    Previous Daily Pivot Point S1: 1.1328
    Previous Daily Pivot Point S2: 1.1285
    Previous Daily Pivot Point S3: 1.1255
    Previous Daily Pivot Point R1: 1.1401
    Previous Daily Pivot Point R2: 1.1431
    Previous Daily Pivot Point R3: 1.1474