Yohay Elam, an analyst at FXStreet, warns that Thursday’s 4-hour chart is showing critical support at 1.1750 is in danger as the EUR/USD pair trades around 1.1770, down -0.40% on the day. Key quotes “Euro/dollar is suffering from downside momentum on the 4-hour chart and has dropped below the 50, 100, and 200 Simple Moving Averages. The Relative Strength Index is nearing 30 – thus about to enter oversold conditions implying a bounce.” “The critical battle line is 1.1750, which provided support twice in recent weeks. EUR/USD breached that level and hit 1.1737, yet the breakout is yet to be confirmed. Further down, 1.17 is another double-bottom to watch, and it is followed by 1.1625.” “Some resistance is at 1.1785, a support line from this week and also from earlier in September. It is followed by 1.1830, which provided before the recent fall. Further above, 1.1875 and 1.1920 await the 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 USD/JPY: Outlook remains negative for the time being – UOB FX Street 1 year Yohay Elam, an analyst at FXStreet, warns that Thursday's 4-hour chart is showing critical support at 1.1750 is in danger as the EUR/USD pair trades around 1.1770, down -0.40% on the day. Key quotes “Euro/dollar is suffering from downside momentum on the 4-hour chart and has dropped below the 50, 100, and 200 Simple Moving Averages. The Relative Strength Index is nearing 30 – thus about to enter oversold conditions implying a bounce.” “The critical battle line is 1.1750, which provided support twice in recent weeks. EUR/USD breached that level and hit 1.1737, yet the breakout is yet to be… 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.
