EUR/USD has hit new 2020 lows. As analyst at FXStreet Yohay Elam notes, the pair is oversold and a bounce is on the cards. Key quotes “The world’s most popular currency pair is nearing 1.0960, the lowest since mid-October. America’s economic might now comes to the test.” “The Relative Strength Index on the four-hour chart has dipped below 30 – entering oversold conditions and implying a bounce. However, euro/dollar suffers from downside momentum and trades below the 50, 100, and 200 Simple Moving Averages.” “The fresh low of 1.0960 provides weak support and it is followed by 1.0940 and 1.0925.” “Some resistance awaits at the daily high of 1.0985, closely followed by 1.0990 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: Potential upside to the 0.6800 area – UOB FX Street 2 years EUR/USD has hit new 2020 lows. As analyst at FXStreet Yohay Elam notes, the pair is oversold and a bounce is on the cards. Key quotes “The world's most popular currency pair is nearing 1.0960, the lowest since mid-October. America's economic might now comes to the test.” “The Relative Strength Index on the four-hour chart has dipped below 30 – entering oversold conditions and implying a bounce. However, euro/dollar suffers from downside momentum and trades below the 50, 100, and 200 Simple Moving Averages.” “The fresh low of 1.0960 provides weak support and it is followed by 1.0940 and 1.0925.”… 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.
