EUR/USD sticks to the rangebound theme above 1.2100. Overbought conditions still favour a correction in the near-term. EUR/USD reverses three consecutive daily pullbacks and returns to the area above the 1.2100 yardstick on Wednesday. While further consolidation remains on the cards, the current overbought conditions open the door to potential knee-jerk in the next sessions. Against this, the loss of recent weekly lows near 1.2080 could pave the way for a deeper retracement to the 1.2000 neighbourhood. Looking at the broader scenario, the constructive outlook in EUR/USD is forecast to remain unchanged above the critical 200-day SMA, today at 1.1446. The 200-week SMA near 1.1440 also reinforces this view. EUR/USD daily chart 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 USD/JPY stays flat above 104.00 ahead of Wall Street’s opening bell FX Street 2 years EUR/USD sticks to the rangebound theme above 1.2100. Overbought conditions still favour a correction in the near-term. EUR/USD reverses three consecutive daily pullbacks and returns to the area above the 1.2100 yardstick on Wednesday. While further consolidation remains on the cards, the current overbought conditions open the door to potential knee-jerk in the next sessions. Against this, the loss of recent weekly lows near 1.2080 could pave the way for a deeper retracement to the 1.2000 neighbourhood. Looking at the broader scenario, the constructive outlook in EUR/USD is forecast to remain unchanged above the critical 200-day SMA, today at 1.1446.… 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.
