EUR/USD failed to print a close above 1.19 on Thursday. Daily chart candlesticks and RSI signal bull exhaustion. The EUR/USD pair has failed three times in the last five days to close above 1.19. On Thursday, the currency pair clocked a high of 1.1916 but settled at 1.1876. Similar price action was observed on Wednesday and last Friday. The repeated rejection above 1.19 validates the overbought reading on the 14-day relative strength index and suggests the ebbing of bullish momentum. A similar message is being echoed by Thursday’s spinning top candle – the one with long wicks and a small body. As such, the pair could chart a notable pullback in the short-term. Key support is located at 1.1696 (Aug. 3 low), which if breached, would invalidate a higher lows setup on the daily chart and yield a decline to 1.1422 (June 10 high). A close above 1.19 is needed to restore the bullish view. Daily chart Trend: Bearish Technical levels 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 GBP/USD Price Analysis: Fades upside momentum near five-month high below 1.3200 FX Street 2 years EUR/USD failed to print a close above 1.19 on Thursday. Daily chart candlesticks and RSI signal bull exhaustion. The EUR/USD pair has failed three times in the last five days to close above 1.19. On Thursday, the currency pair clocked a high of 1.1916 but settled at 1.1876. Similar price action was observed on Wednesday and last Friday. The repeated rejection above 1.19 validates the overbought reading on the 14-day relative strength index and suggests the ebbing of bullish momentum. A similar message is being echoed by Thursday’s spinning top candle – the one with long wicks and a small… 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.
