EUR/USD’s 100-pip rise from the lows seems like another ‘dead cat bounce’ as volatility remains elevated. Friday’s four-hour chart is pointing to a resumption of the downturn, in the opinion of Yohay Elam from FXStreet. Key quotes “EUR/USD is suffering from downside momentum on the four-hour chart and trades below the 50, 100, and 200 Simple Moving Averages – all bearish signs.” “Moreover, the recent bounce has pushed the Relative Strength Index above 30 – outside oversold conditions and allowing for more falls.” “Some support awaits at 1.0720, a support line from 2017. The recent low of 1.0652 is the next level to watch.” “Resistance awaits at 1.0855, a cap from February, and then by 1.0975, a swing high from earlier this week.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next STEEM is down 22% and still overbought ahead of the fork FX Street 2 years EUR/USD's 100-pip rise from the lows seems like another ‘dead cat bounce’ as volatility remains elevated. Friday's four-hour chart is pointing to a resumption of the downturn, in the opinion of Yohay Elam from FXStreet. Key quotes “EUR/USD is suffering from downside momentum on the four-hour chart and trades below the 50, 100, and 200 Simple Moving Averages – all bearish signs.” “Moreover, the recent bounce has pushed the Relative Strength Index above 30 – outside oversold conditions and allowing for more falls.” “Some support awaits at 1.0720, a support line from 2017. The recent low of 1.0652 is the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
