EUR/USD’s downturn from the Jan. 6 high of 1.2349 has stalled with sellers struggling to keep losses below 1.2140. That level has restricted downside at least three times in the past 72 hours and has neutralized the immediate bearish bias. A positive follow-through in the form of a quick move above 1.2223 (Wednesday’s high) would revive the bullish bias and shift risk in favor of a re-test of the recent high of 1.2349. Alternatively, a 4-hour close below 1.2140 would revive the bearish view put forward by the daily chart rising wedge breakdown confirmed last week and open the doors for a drop to 1.2050-1.20. At press time, the pair is trading near 1.2170, representing a 0.11% gain on the day. 4-hour chart Trend: Neutral 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 NZD/USD bulls taking charge in Tokyo FX Street 2 years EUR/USD's downturn from the Jan. 6 high of 1.2349 has stalled with sellers struggling to keep losses below 1.2140. That level has restricted downside at least three times in the past 72 hours and has neutralized the immediate bearish bias. A positive follow-through in the form of a quick move above 1.2223 (Wednesday's high) would revive the bullish bias and shift risk in favor of a re-test of the recent high of 1.2349. Alternatively, a 4-hour close below 1.2140 would revive the bearish view put forward by the daily chart rising wedge breakdown confirmed last week and open the doors… 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.
