EURUSD rose to 1.1825 today to have its first day above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading now 1.1669, after 19 consecutive days of trading below this indicator.
EURUSD could bounce up last Friday from 1.1669 to keep its supporting level which has been formed at 1.1662 on last Aug. 17 unbroken.
EURUSD bouncing up from 1.1669 could bring it back above 23.6% Fibonacci retracement level of its rising this year from 1.0340 to 1.2092.
EURUSD is now in need to get over its resistance level at 1.1832 which capped it on last Sep. 29 before facing its previous formed a lower high at 1.2032 which below its peak at 1.2092 which has been formed on Sep. 8.
EURUSD is still also in need to have higher upside momentum by rising above its daily SMA50.
while it is still underpinned over longer range by continued being above its daily SMA100 and its daily SMA200, After forming a series of higher lows had started with its formed bottom at 1.0340 on the third day of this year to be the lowest level of the pair since December 2002.
EURUSD daily RSI-14 is referring now to existence in the neutral region reading 49.249.
EURUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is still having its main line in the neutral region at 64.904 leading to the upside its signal line which is at 45.225 lower in the same region.
Important levels: Daily SMA50 @ 1.1844, Daily SMA100 @ 1.1605 and Daily SMA200 @ 1.1167
S&R:
S1: 1.1662
S2: 1.1612
S3: 1.1479
R1: 1.1832
R2: 1.2032
R3: 1.2092
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
