The EUR/USD pair is trading at 1.1728, representing a 0.10% decline on the day, as Wednesday’s 4-hour chart is showing bears are gaining strength. Yohay Elam, an analyst at FXStreet, remarks the critical support at the double-bottom of 1.17. Key quotes “EUR/USD has dropped below the 100 Simple Moving Average on the 4-hour chart, another bearish sign, joining the loss of the 50 SMA. Momentum remains to the downside and the Relative Strength Index is above 30, outside oversold conditions.” “Critical support awaits at the double-bottom of 1.17, recorded in recent weeks. Beyond that line, 1.1625 was a stepping stone on the way up, 1.1540 was a swing low and 1.1510 provided support in mid-July.” “Resistance is at 1.1750, which provided support last week, followed by 1.1805, which capped EUR/USD on Tuesday. Next, 1.1850 and 1.1915 await the currency pair.” 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 AUD/USD to test the 2019 high at 0.7295 in the medium-term – Credit Suisse FX Street 2 years The EUR/USD pair is trading at 1.1728, representing a 0.10% decline on the day, as Wednesday's 4-hour chart is showing bears are gaining strength. Yohay Elam, an analyst at FXStreet, remarks the critical support at the double-bottom of 1.17. Key quotes “EUR/USD has dropped below the 100 Simple Moving Average on the 4-hour chart, another bearish sign, joining the loss of the 50 SMA. Momentum remains to the downside and the Relative Strength Index is above 30, outside oversold conditions.” “Critical support awaits at the double-bottom of 1.17, recorded in recent weeks. Beyond that line, 1.1625 was a stepping stone… 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.
