EUR/USD jumped 0.67% on Thursday, confirming a range breakout on the daily chart. Momentum indicators are biased bullish and suggest scope for a move above 1.11. EUR/USD closed well above 1.1019 on Thursday, confirming an upside breakout of the multi-week trading range of 1.0727 to 1.1019. The breakout is backed by an above-50 or bullish reading on the 14-day relative strength index (RSI). The daily chart MACD histogram is printing higher bars above the zero line, a sign of the strengthening of the bullish momentum. What’s more, the ascending 5-day simple moving average (SMA) looks set to cross above the 200-day SMA. All in all, the odds appear stacked in favor of a convincing move above 1.11. At press time, the pair is trading at 1.1080, having hit a high of 1.1094 on Thursday. The 4-hour chart RSI is reporting overbought conditions. So, a minor pullback may be seen before stronger gains. With resistance at 1.1065 breached, the focus has now is on 1.1145/66 – the late March high and 61.8% retracement of the March collapse. A close below 1.1019 is needed to invalidate the bullish setup. 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 GBP/JPY keeps the lower high formation above 132.00 as risk remains heavy FX Street 3 years EUR/USD jumped 0.67% on Thursday, confirming a range breakout on the daily chart. Momentum indicators are biased bullish and suggest scope for a move above 1.11. EUR/USD closed well above 1.1019 on Thursday, confirming an upside breakout of the multi-week trading range of 1.0727 to 1.1019. The breakout is backed by an above-50 or bullish reading on the 14-day relative strength index (RSI). The daily chart MACD histogram is printing higher bars above the zero line, a sign of the strengthening of the bullish momentum. What's more, the ascending 5-day simple moving average (SMA) looks set to cross above the… 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.
