EUR/USD bulls in play from key support on the monthly time frame. Lower time frames depict the bullish outlook on a break of the hourly 10 SMA for the open. EUR/USD is decelerating in its current bearish impulse and the upside is compelling from support. The following illustrates the playbook. Monthly chart Price has reached a 61.8% Fibonacci retracement at monthly support. Weekly chart The weekly depicts the outlook as well. Daily chart However, from a daily perspective, there is resistance to be concerned for. This offers a confluence of the 50% mean reversion and prior lows. 4-hour chart The 4-hour 10 SMA is a firm target in confluence with the daily chart’s resistance. 1-hour chart The 1-hour time frame remains bearish but from support, the price can take out the 10-moving average and head towards resistance. 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: Struggles to regain 0.7200 as bears keep reins at seven-week low FX Street 1 year EUR/USD bulls in play from key support on the monthly time frame. Lower time frames depict the bullish outlook on a break of the hourly 10 SMA for the open. EUR/USD is decelerating in its current bearish impulse and the upside is compelling from support. The following illustrates the playbook. Monthly chart Price has reached a 61.8% Fibonacci retracement at monthly support. Weekly chart The weekly depicts the outlook as well. Daily chart However, from a daily perspective, there is resistance to be concerned for. This offers a confluence of the 50% mean reversion and prior… 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.
