Technical Analysis: EURUSD

EURUSD rose to a one-week high

On Monday, EURUSD rose steadily. At one point, it reached 1.1639, the highest level since 12^th March.

The ECB kept three key interest rates unchanged

Last week, the ECB (European Central Bank) kept three key interest rates unchanged. It will be committed to keeping the mid-term inflation target steady at 2%.

The USDX fell from a high level

On Monday, the USDX fell from a high level. It ended down 0.37% at 99.13.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, EURUSD rose steadily. The bullish market trend prevailed in the short term. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that EURUSD will climb further. Investors should focus on whether EURUSD will break through the resistance at 1.167. It will jump with potential resistance at 1.174 if it breaks above 1.167.

4-hour chart

On the 4-hour chart, EURUSD rose steadily. The bullish market trend prevailed in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, demonstrating that the market trend is bullish. Investors should focus on whether EURUSD will break through the support at 1.155. It will climb if it retreats but is stable above 1.155.

Key resistance: 1.167,1.174

Key support: 1.155,1.148

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