EUR/USD Technical Analysis: Doji on D1 highlights short-term support trendline

18 Dec 2019, 12:59 · Views 1,343

EUR/USD registers another U-turn from the 1.1180/75 resistance area.
A bearish candlestick formation keeps the sellers hopeful.
August month high adds to the resistance.

EUR/USD marks another U-turn from the familiar 1.1180/75 resistance zone as it trades near 1.1150 during Wednesday’s Asian session.

The quote flashed a bearish, ‘Doji’, candlestick formation on the daily (D1) chart on Tuesday, which in turn favors the pair’s declines. However, an upward sloping trend line since October 10, at 1.1123, can limit the immediate downside.

Should prices slip beneath 1.1123, 61.8% Fibonacci retracement of August-October declines, near 1.1110, followed by November 21 high near 1.1100, could keep sellers happy.

On the upside, a clear break of 1.1180 enables the bulls to challenge August month's top close to 1.1250.

It’s worth mentioning that there are multiple upside barriers around 1.1230 during the pair’s rise between 1.1180 and 1.1250.

EUR/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	1.1148
Today Daily Change	2 pips
Today Daily Change %	0.02%
Today daily open	1.1146

Trends
Daily SMA20	1.1073
Daily SMA50	1.1076
Daily SMA100	1.1065
Daily SMA200	1.1153

Levels
Previous Daily High	1.1176
Previous Daily Low	1.1129
Previous Weekly High	1.12
Previous Weekly Low	1.1054
Previous Monthly High	1.1176
Previous Monthly Low	1.0981
Daily Fibonacci 38.2%	1.1158
Daily Fibonacci 61.8%	1.1147
Daily Pivot Point S1	1.1125
Daily Pivot Point S2	1.1104
Daily Pivot Point S3	1.1079
Daily Pivot Point R1	1.1172
Daily Pivot Point R2	1.1197
Daily Pivot Point R3	1.1218

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