EURUSD Adds to the Prior Week’s Advance, Approaches Beyond the 1.1870 Mark


EURUSD Price Analysis – September 14

The European currency versus the USD advances for the fourth consecutive session so far on Monday, on approach beyond the 1.1870 marks while keeping the buying bias unchanged despite the failed attempt to extend the prior week’s advance further north of the 1.19 handle.

Key Levels
Resistance Levels: 1.2011, 1.1965, 1.1916
Support Levels: 1.1852, 1.1750, 1.1685
EURUSD Long term Trend: Bullish
On the daily chart, EURUSD retains a bullish bias above 1.1750 level and the beneath support lines. Nonetheless, the price may shift sideways before it resumes a positive bearing. If sellers manage to take control, early limitations may arise from the 1.1750 low level ahead of the critical support section from the 1.1709 level.

EURUSD is currently at a standstill, curbed by the 1.1685 and 1.2011 boundaries, though is still communicating an intact upside development in price that recently stretched slightly above the 1.2000 psychological number.
EURUSD Short term Trend: Ranging
Looking at the 4-hour time frame, short-term oscillators appear to be gaining strength again. The MA’s are in the positive region, price is below its prior week’s high but looks determined to retake it, while the RSI is growing from a bounce near the 50 marks.

The near-term action from last week’s correction low at 1.1750 level shows a series of higher lows that points to ascend, however, bulls continue to face headwinds and so far failed twice to break above the pivotal barrier at 1.1900 marks (38.2% of 1.2011/1.1750 levels pullback).

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.