56392 January, 22, 01:25:49 PM

EUR/USD Price Analysis: Rises to 1.0850; Next Barrier at Upper Boundary of Triangle

Share with -

EUR/USD Price Analysis: Bullish Bias Continues

Technical Analysis

The EUR/USD pair has been on an upward trend, trading around 1.0850 during the Asian session on Monday. A technical analysis of the daily chart reveals a bullish bias, as the pair moves within an ascending triangle pattern.

  • Ascending Triangle: The EUR/USD pair is moving within an ascending triangle pattern, indicating a possible bullish continuation.
  • Momentum Indicator: The 14-day Relative Strength Index (RSI) is positioned above 50, further confirming the bullish bias.

Support and Resistance Levels

  • Immediate Support: The immediate support level is located at the 21-day Exponential Moving Average (EMA) at 1.0819, followed by the psychological level of 1.0800.
  • Resistance: The upper boundary of the ascending triangle, around 1.0900, acts as the primary resistance level.

Trading Strategy

Based on the technical analysis, a potential trading strategy could be:

  • Buy: If the pair breaks above the upper boundary of the ascending triangle, traders could consider a buy position, targeting the psychological level of 1.0900.
  • Sell: If the pair breaks below the lower boundary of the ascending triangle, traders could consider a sell position, targeting the 1.0700 level.

Additional Technical Indicators

  • Daily SMA20: 1.0822
  • Daily SMA50: 1.0773
  • Daily SMA100: 1.0808
  • Daily SMA200: 1.0788

Previous Daily Levels

  • High: 1.0882
  • Low: 1.0811

Previous Weekly Levels

  • High: 1.0889
  • Low: 1.0788

Previous Monthly Levels

  • High: 1.0895
  • Low: 1.065

Fibonacci Levels

  • Daily Fibonacci 38.2%: 1.0855
  • Daily Fibonacci 61.8%: 1.0838

Pivot Points

  • Daily Pivot Point S1: 1.0812
  • Daily Pivot Point S2: 1.0776
  • Daily Pivot Point S3: 1.0741
  • Daily Pivot Point R1: 1.0883
  • Daily Pivot Point R2: 1.0918
  • Daily Pivot Point R3: 1.0954


The EUR/USD pair maintains a bullish bias within the ascending triangle pattern. A break above 1.0900 could extend the upward momentum, while a break below 1.0800 could signal a potential trend reversal. Traders should monitor the key support and resistance levels and use appropriate risk management strategies when trading this pair.

Share To -
Please Sign in to make a comment.
  • Trending market news & market moves
  • Forex Forecast & Analysis
  • Experts opinions
  • Upcomming Webinars & Seminars
Subscribe to Our Newsletter