EUR/USD has been scaling higher along a one-week-old ascending trend-line. The set-up favours bullish traders and supports prospects for additional gains. The USD selling bias remained unabated through the early European session and pushed the EUR/USD pair to three-day tops, around the 1.2225-30 region in the last hour. From a technical perspective, the pair built on last week’s bounce from the 1.2125-30 congestion zone and has been scaling higher along a one-week-old ascending trend-line. The mentioned support is currently pegged near the 1.2185 region, which should now act as a key pivotal point for intraday traders. Meanwhile, technical indicators on hourly/daily charts maintained their bullish bias and support prospects for an extension of the short-term uptrend. That said, holiday-thinned trading conditions warrants some caution for bulls before positioning aggressively for any further near-term appreciating move. Nevertheless, the EUR/USD pair still seems poised to aim back to retest over two-and-half-year tops, around the 1.2270-75 region, touched earlier this December. The momentum could get extended beyond the 1.2300 level and lift the pair further towards the 1.2340 intermediate resistance en-route the 1.2400 mark. On the flip side, failure to defend the mentioned trend-line support near the 1.2185 region might prompt some technical selling and drag the EUR/USD pair back towards the 1.2130-25 area. Some follow-through selling might negate the positive outlook and paving the way for a slide towards the 1.2160-55 support zone. EUR/USD 1-hourly chart Technical levels to watch 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 GBP/USD: Brexit deal not to provide sustained gains until late 2021 – TDS FX Street 2 years EUR/USD has been scaling higher along a one-week-old ascending trend-line. The set-up favours bullish traders and supports prospects for additional gains. The USD selling bias remained unabated through the early European session and pushed the EUR/USD pair to three-day tops, around the 1.2225-30 region in the last hour. From a technical perspective, the pair built on last week's bounce from the 1.2125-30 congestion zone and has been scaling higher along a one-week-old ascending trend-line. The mentioned support is currently pegged near the 1.2185 region, which should now act as a key pivotal point for intraday traders. Meanwhile, technical indicators on… 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.
