EUR/USD looks set to test 1.2200, fresh multi-year tops. A pennant breakout is likely on the hourly chart. RSI stays bullish while the spot recaptured 21-HMA. EUR/USD is prepping up for an upside break from its choppy trend around 1.2150, as the bulls regain control in the European session. The risk sentiment hanging in balance amid US stimulus hopes, renewed coronavirus concerns while investors await the FOMC decision for fresh directives. From a near-term technical perspective, the main currency pair is on the verge of confirming a pennant breakout if it manages to close the hour above the falling trendline resistance at 1.2156. The Relative Strength Index (RSI) looks north above the 50.00 level, backing the case for the additional upside. Meanwhile, the price has managed to regain the horizontal 21-hourly moving average (HMA) at 1.2150. The next stop for the bulls is seen at the 2020 tops of 1.2178, above which a test of the 1.2200 level is inevitable. On the flip side, the 21-HMA could offer immediate support. A breach of the last could bring the 50-HMA resistance now support at 1.2139 back in play. An hourly closing below the rising trendline support at 1.2131 could revive the EUR bears, exposing the critical support at 1.2127, where the 100-HMA coincides with the 200-HMA. EUR/USD: Hourly chart EUR/USD: Additional 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 EUR/GBP sticks to intraday gains just below mid-0.9100s FX Street 2 years EUR/USD looks set to test 1.2200, fresh multi-year tops. A pennant breakout is likely on the hourly chart. RSI stays bullish while the spot recaptured 21-HMA. EUR/USD is prepping up for an upside break from its choppy trend around 1.2150, as the bulls regain control in the European session. The risk sentiment hanging in balance amid US stimulus hopes, renewed coronavirus concerns while investors await the FOMC decision for fresh directives. From a near-term technical perspective, the main currency pair is on the verge of confirming a pennant breakout if it manages to close the hour above the falling trendline resistance… 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.
