EUR/USD printed a bullish daily close above the March 3 high on Thursday. A key indicator is reporting overbought conditions, but the bulls remain undeterred. EUR/USD is currently trading at 1.1223, representing marginal losses on the day, having hit a high of 1.1245 during the overnight trade. That was the highest level since Aug. 6, 2019. Bullish setup on D1 The pair jumped 0.93% on Thursday and closed well above the March 3 high of 1.1213, establishing a fresh bullish higher high on the daily chart. Thursday’s gain also validated the single currency’s defense of the all-important 200-day average at 1.11 observed on Wednesday and signaled a continuation of the rally from February’s low of 1.0778. The 14-day relative strength index has crossed into overbought territory above 70. The price chart, however, is showing no signs of buyer exhaustion. All in all, the doors remain open for EUR/USD to extend gains toward the next major resistance lined up near 1.1282 (July 19, 2019 high). A close under 1.1095 (Wednesday’s low) is needed to invalidate the bullish setup. That level could be breached if the global equities pick up a strong bid and post solid gains for consecutive days, weakening the haven demand for the EUR. Daily chart Trend: Bullish 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 Australia’s Retail Sales drop 0.3% in Jan, surprise negatively – AUD/USD off the highs FX Street 2 years EUR/USD printed a bullish daily close above the March 3 high on Thursday. A key indicator is reporting overbought conditions, but the bulls remain undeterred. EUR/USD is currently trading at 1.1223, representing marginal losses on the day, having hit a high of 1.1245 during the overnight trade. That was the highest level since Aug. 6, 2019. Bullish setup on D1 The pair jumped 0.93% on Thursday and closed well above the March 3 high of 1.1213, establishing a fresh bullish higher high on the daily chart. Thursday's gain also validated the single currency's defense of the all-important 200-day average at 1.11… 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.
