Search ForexCrunch

EUR/USD Friday’s four-hour chart is pointing to an advantage for the bears, as FXStreet’s analyst Yohay Elam notes.

Key quotes

“EUR/USD dropped below the uptrend support line that accompanied it since last week and also fell below the 50 and 100 Simple Moving Averages on the four-hour chart.”

“Some support awaits at 1.0840, which was a stepping stone for the pair on its way up. The weekly low of 1.0815 is the next level to watch.”

“Resistance is at 1.0930, which was a swing high last week. April’s peak of 1.0995 is the next up.”