Technical Analysis: EURUSD

EURUSD reached the 1.18 mark again

On Wednesday, EURUSD rose steadily and broke above the 1.180 mark. It ended up 0.29% at 1.1809.

Eurozone CPI met expectations year on year in January

Eurozone CPI, y/y (January) was 1.7%, which met market expectations and was in line with the prior value, according to the data from the Eurostat.

The USDX was capped

On Wednesday, lowered by uncertainty over trade policies, the USDX declined. It ended down 0.24% at 97.57.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, EURUSD increased steadily. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that EURUSD will rise further. Investors should focus on whether EURUSD will break through the resistance at 1.187. It will climb further with potential resistance at 1.193 if it breaks above 1.187.

4-hour chart

On the 4-hour chart, EURUSD increased steadily. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether EURUSD will break through the support at 1.180. It will jump if it retreats but is stable above 1.180.

Key resistance: 1.187,1.193

Key support: 1.180,1.176

Generally speaking, the bullish market trend prevailed. Investors could buy as EURUSD retreats during the day.