After topping 1.18, the world’s most popular currency pair is now at crossroads as Wednesday’s 4-hour chart is painting a mixed picture. Yohay Elam, an analyst at FXStreet, still believes bulls are in advantage but notes that bears are gaining some ground. Key quotes “Momentum on the 4-hour chart has turned to the downside, yet the EUR/USD pair is still trading above the 50, 100, and 200 Simple Moving Averages while the Relative Strength Index is balanced.” “The daily high of 1.1825 is the initial resistance line, followed by 1.1850, a level that capped EUR/USD in 2018. The 2020 peak of 1.1909 and 1.20 are next.” “Support awaits at 1.1780, a temporary cap on the way up, and 1.1730, a swing low last week. Critical support awaits at 1.17, which is a double-bottom, followed by 1.1625.” 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 USD/ZAR: Dollar’s strength unlikely to last, short-term forecast at 17.00 – Credit Suisse FX Street 2 years After topping 1.18, the world's most popular currency pair is now at crossroads as Wednesday's 4-hour chart is painting a mixed picture. Yohay Elam, an analyst at FXStreet, still believes bulls are in advantage but notes that bears are gaining some ground. Key quotes “Momentum on the 4-hour chart has turned to the downside, yet the EUR/USD pair is still trading above the 50, 100, and 200 Simple Moving Averages while the Relative Strength Index is balanced.” “The daily high of 1.1825 is the initial resistance line, followed by 1.1850, a level that capped EUR/USD in 2018. The 2020 peak… Top 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.
