Technical Analysis: EURUSD

EURUSD climbed for the 8^th straight trading day

On Wednesday, EURUSD rose for 8 consecutive trading days. It ended up 0.02% at 1.1797.

The USDX rose and then fell

On Wednesday, the USDX rose and then fell. It ended down 0.01% at 98.08.

Eurozone industrial production was better than expected in February

Eurozone Industrial Production, m/m (February) increased from -0.8% to 0.4% Vs. 0.3% (forecast), according to the data from the Eurostat.

The bullish market prevailed in the short term

the Chart of the Day

On the chart of the day, EURUSD continued climbing. The bullish market trend prevailed in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that EURUSD will rise further. Investors should focus on whether EURUSD will break through the resistance at 1.183. It will jump with potential resistance at 1.193 if it breaks above 1.183.

4-hour chart

On the 4-hour chart, EURUSD was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ 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 1.177. It will jump if it retreats but is stable above 1.177.

Key resistance: 1.183,1.193

Key support: 1.177,1.172

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