The recent EUR/USD bullish run might have already run out of the steam. Haresh Menghani recommends being prudent and wait for some strong follow-through selling before positioning for any further near-term depreciating move. Key quotes “Weakness below the 1.1100-1.1095 region (200-DMA) might continue to attract some dip-buying and help limit the downside near 100-day SMA support, around the 1.1055 region. Sustained break through the mentioned support levels will confirm that the pair might have already topped out in the near-term.” “On the flip side, immediate resistance is pegged near the 1.1175 area – the top end of the said descending trend-channel. This is closely followed by the 1.1200 round-figure mark.” 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 Monero Market Update: Can XMR/USD bullish action smash the $70 resistance? FX Street 3 years The recent EUR/USD bullish run might have already run out of the steam. Haresh Menghani recommends being prudent and wait for some strong follow-through selling before positioning for any further near-term depreciating move. Key quotes “Weakness below the 1.1100-1.1095 region (200-DMA) might continue to attract some dip-buying and help limit the downside near 100-day SMA support, around the 1.1055 region. Sustained break through the mentioned support levels will confirm that the pair might have already topped out in the near-term.” “On the flip side, immediate resistance is pegged near the 1.1175 area – the top end of the said descending… 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.
