EUR/USD has bounced to levels above the 50-hour average. Failure to keep gains above the average could prove costly. EUR/USD has moved back above the 50-hour moving average (MA). The pair is currently trading at 1.0810 and the average is located at 1.0808. Throughout the recent decline from 1.1095, the pair has charted bearish lower highs just above the 50-hour MA. Hence, the latest break above the average is an acid test of sorts for the bulls. If they manage to build on the breakout above the hourly average, the immediate bearish technical bias would be neutralized. That will likely cause some sellers to exit the market, leading to a stronger corrective bounce to 1.0850. Alternatively, a drop to fresh multi-year lows below 1.0782 could be seen if the bulls again fail to keep gains above the 50-hour MA. Hourly 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 Gold Price Analysis: Pulls back amid overbought RSI, multiple upside barriers ahead FX Street 2 years EUR/USD has bounced to levels above the 50-hour average. Failure to keep gains above the average could prove costly. EUR/USD has moved back above the 50-hour moving average (MA). The pair is currently trading at 1.0810 and the average is located at 1.0808. Throughout the recent decline from 1.1095, the pair has charted bearish lower highs just above the 50-hour MA. Hence, the latest break above the average is an acid test of sorts for the bulls. If they manage to build on the breakout above the hourly average, the immediate bearish technical bias would be neutralized. That will likely… 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.
