Euro steadies near 1.1300 as bullish signals gain traction
The post Euro steadies near 1.1300 as bullish signals gain traction appeared on BitcoinEthereumNews.com.
EUR/USD trades near the 1.1300 zone after gaining modestly in Friday’s session. Mixed short-term indicators contrast with a broadly bullish long-term structure. Key support holds just below, while resistance aligns near recent highs. The EUR/USD pair advanced modestly on Friday, trading near the 1.1300 zone after the European session. Price action remained contained within the day’s range, reflecting steady demand despite mixed short-term momentum signals. The broader technical picture, however, remains constructive, with long-term averages reinforcing the underlying bullish bias. Technically, the pair presents a mixed but generally positive outlook. The Relative Strength Index sits in neutral territory around 52, suggesting balanced momentum without immediate overbought pressure. The Moving Average Convergence Divergence, however, continues to flash a sell signal, indicating that short-term gains may face resistance. Meanwhile, the Williams Percent Range and 10-period Momentum both suggest a buy, adding a counterweight to the MACD’s more cautious tone. The broader structure is clearly tilted to the upside. The 100-day and 200-day Simple Moving Averages, positioned well below current levels, remain firmly bullish, reflecting sustained medium-term demand. Supporting this outlook are the 30-day Exponential and Simple Moving Averages, both trending higher and sitting just under current price action, providing dynamic support. In contrast, the 20-day SMA sits slightly above spot and may act as near-term resistance, capping immediate gains. Support is located at 1.1226, 1.1225, and 1.1209. Resistance is found at 1.1266, 1.1273, and 1.1302. A sustained move above the immediate resistance band could confirm the broader bullish trend, while a drop below nearby support may trigger a brief corrective pullback. Daily Chart Source: https://www.fxstreet.com/news/eur-usd-price-analysis-euro-steadies-near-11300-as-bullish-signals-gain-traction-202505091530
Filed under: News - @ May 9, 2025 6:24 pm