EUR/USD’s upside intact while above 200-HMA. Hourly RSI points north while above 50.00. Will it sustain the bounce ahead of ECB’s expected stimulus? EUR/USD is challenging highs once again above 1.2100, as the recovery from Wednesday’s corrective decline regains traction ahead of the all-important ECB monetary policy decision. The ECB is expected to boost the stimulus to stimulate economic recovery. However, the central bank’s projections and President Christine Lagarde’s comments on the euro strength will be of significance for fresh direction on the single currency. From a near-term technical perspective, the rebound in the main currency pair could likely remain intact so long as the bulls manage to defend the upward-sloping 200-hourly moving average (HMA) at 1.2083. A breach of the latter could put Wednesday’s low of 1.2059 at risk. On the flip side, recapturing of the horizontal 50-HMA at 1.2105 is critical to extending the recovery towards the 100-HMA hurdle, aligned at 1.2117. Further north, the confluence of Wednesday’s high and psychological level around 1.2150 could be challenged. The hourly Relative Strength Index (RSI) points north above the midline, currently at 57.73, allowing more room to the upside. 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 EU Commission proposes target contingency measures for no-deal Brexit scenario FX Street 2 years EUR/USD’s upside intact while above 200-HMA. Hourly RSI points north while above 50.00. Will it sustain the bounce ahead of ECB’s expected stimulus? EUR/USD is challenging highs once again above 1.2100, as the recovery from Wednesday’s corrective decline regains traction ahead of the all-important ECB monetary policy decision. The ECB is expected to boost the stimulus to stimulate economic recovery. However, the central bank’s projections and President Christine Lagarde’s comments on the euro strength will be of significance for fresh direction on the single currency. From a near-term technical perspective, the rebound in the main currency pair could likely remain intact… 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.
