Author: FX_Trdr

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By CountingPips

EUR/USD continues to hold at or above Major Support & Resistance Level

The euro saw a slight gain against the US dollar in foreign exchange market trading today after declining for the past two days. The EUR/USD has finished the day at the New York close up by approximately 20 pips. This marks a second straight day closing right at the major 1.3000 level.

Support & Resistance Levels:

Important support & resistance levels to watch start with the obvious one at 1.3000 while 1.2875 and 1.2750 would be likely targets on a bearish breakdown as well as the monthly pivot point sitting at 1.2898. If significant support materializes then the previous support/resistance level around 1.3150 would come into focus and bring the 1.3300 level next up the ladder.

Pivot Point Levels:

Weekly Pivot Point: 1.3081
Monthly Pivot Point: 1.2898

Linear Regression Indicator Trends / Strength Data:

30-day current trend is BULLISH / Trend strength of 248.0 pips
60-day current trend is BEARISH / Trend strength of -263.7 pips
90-day current trend is BEARISH / Trend strength of -588.3 pips
180-day current trend is BULLISH / Trend strength of 200.4 pips
365-day current trend is BULLISH / Trend strength of 344.5 pips

Article by CountingPips Forex News & Analysis

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