EUR/USD’s upside looks elusive despite the technical breakout. A falling wedge bullish break confirmed on the hourly chart. Bearish crossovers, bullish RSI put EUR bulls in limbo. EUR/USD struggles to extend its recent uptick while holding moderate gains above the 1.2100 level. The main currency pair caught a fresh bid wave in the last hour and broke through its recent consolidative phase within a falling wedge formation, confirming an upside break on the hourly chart. The Relative Strength Index (RSI) points north above the 50.00 level, indicating that there is more room to the upside. However, the bearish crossovers emerge as the cause for concern. The 21-hourly moving average (HMA) cut the 50-HMA from above while the 100-HMA slipped under the 200-HMA. The divergence on the chart could make it an uphill task for the bulls should the buying pressure intensify. The pattern target is measured at 1.2189. Ahead of that the spot needs to clear the 2020 highs of 1.2177. To the downside, strong support is aligned at 1.2125, the convergence of 21 and 50-HMAs. Further south, the 200-HMA cushion at 1.2117 could be the last resort for the buyers. 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 ECB’s Villeroy: Any positive economic effect from coronavirus vaccines will not be felt until end-2021 FX Street 2 years EUR/USD’s upside looks elusive despite the technical breakout. A falling wedge bullish break confirmed on the hourly chart. Bearish crossovers, bullish RSI put EUR bulls in limbo. EUR/USD struggles to extend its recent uptick while holding moderate gains above the 1.2100 level. The main currency pair caught a fresh bid wave in the last hour and broke through its recent consolidative phase within a falling wedge formation, confirming an upside break on the hourly chart. The Relative Strength Index (RSI) points north above the 50.00 level, indicating that there is more room to the upside. However, the bearish crossovers emerge as… 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.
