Euro US Dollar: strong bullish signal on daily chart

Strong bullish signal. Euro US Dollar crosses above the 14-day moving average (SMA value is 1.1304). Expected further price extensions.

Euro US Dollar yesterday close was at 1.1326 (+0.68%). For intraday trading session the technical view is positive and leaves assume further price extensions. However, we can’t exclude retracements towards the most significant support levels.

Euro US Dollar SMA bullish signal

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Simple Moving Average (SMA)
Strong bullish signal: the price crosses above the 14-day moving average (SMA value is 1.1304). Today trading session forecast is for further price extensions towards the most significant resistance levels.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 22/06/2016

Performance: 7 trading days= +1.03% – 15 trading days= +1.57% – 30 trading days= -0.42%
Resistance levels: R1= 1.1370 – R2= 1.1415 – R3= 1.1526
Pivot Point: 1.1304
Support levels: S1= 1.1259 – S2= 1.1193 – S3= 1.1082


Buying opportunity above 1.1346 targets minor resistance at 1.1387 and perhaps as far as strong resistance at 1.1417, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.1466.

Selling opportunity below 1.1300 targets minor support at 1.1259 and perhaps as far as strong support at 1.1230, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.1181.