Euro FX USD future: technical view is positive, expected further climbs

Euro FX USD future technical view is positive and leaves assume further climbs. First resistance level at 1.0708.

Euro FX USD future January 12, 2017 close was at 1.0651 (+0.45%). For intraday trading session the technical view is positive and leaves assume further climbs. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the upward trend.

Future Euro FX USD

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Euro FX USD future quotes are above the 14 days moving average (SMA value is 1.0544). The short term view is mildly bullish within a bearish main trend, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows an increase in volumes compared to the previous day.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 12/01/2017.

Performance: 7 trading days= +2.06% – 15 trading days= +1.72% – 30 trading days= +0.44%

Resistance levels: R1= 1.0708 – R2= 1.0766 – R3= 1.0879
Pivot Point: 1.0653
Support levels: S1= 1.0595 – S2= 1.0540 – S3= 1.0427


Buying opportunity above 1.0665 targets minor resistance at 1.0702 and perhaps as far as strong resistance at 1.0732, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.0778.

Selling opportunity below 1.0634 targets minor support at 1.0597 and perhaps as far as strong support at 1.0568, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.0522.

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