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EUR/USD Trims Daily Gains Ahead of Draghi's Speech

09/19/2018
at 1:08 PM

EUR/USD bearish trend is no where near since the mid of August. The pair is now consolidating the breakout of triangle and 55 and 100 SMAs. The pair is still bullish ahead of Draghi's speech. The demand zone for the pair lies at 1.1600-1.1630 while the upside targets lies at 1.1750 followed by 1.1790. 

Alternatively, breaking below the 1.1508 could change the outlook. 

Technical Levels to Consider

Support 1: 1.1654 August 27 high
Support 2: 1.1630 August 8 high key level
Support 3: 1.1600 figure
Support 4: 1.1572 July 19 low

Resistance 1: 1.1722 last week high
Resistance 2: 1.1750 key resistance (July)
Resistance 3: 1.1800 figure
Resistance 4: 1.1853 June 14 high