The EUR/USD pair has hovered around 1.0800 for the last three trading days, although weak US PMI have helped it trim weekly losses, now trading at around 1.0840. EUR/USD extreme oversold conditions point to a bullish corrective advance, according to Valeria Bednarik from FXStreet. Key quotes “The weekly chart shows that the pair remains far below all of its moving averages, while technical indicators lost strength downward, but remain well into negative territory, suggesting that in the long-term, the risk remains skewed to the downside.” “In the daily chart, the pair is barely correcting extreme oversold conditions, as it’s trading roughly 60 pips above its 2020 low after losing 320 pips pretty much straight.” “Technical indicators have moved out extreme oversold territory for the first time in over a week, but remain well below their midlines. The 20 DMA maintains its bearish slope at around 1.0940 while holding below the larger ones.” “For the upcoming days, 1.0900 is the immediate resistance ahead of the mentioned 20 DMA. 1.0770 is immediate support.” 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 GBP/USD climbs above 1.2970 as USD selloff intensifies after PMI data FX Street 2 years The EUR/USD pair has hovered around 1.0800 for the last three trading days, although weak US PMI have helped it trim weekly losses, now trading at around 1.0840. EUR/USD extreme oversold conditions point to a bullish corrective advance, according to Valeria Bednarik from FXStreet. Key quotes “The weekly chart shows that the pair remains far below all of its moving averages, while technical indicators lost strength downward, but remain well into negative territory, suggesting that in the long-term, the risk remains skewed to the downside.” “In the daily chart, the pair is barely correcting extreme oversold conditions, as it’s trading… 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.
