EUR/USD’s chart shows bull fatigue and suggests scope for a pullback. Sustained risk-off would weaken the case for a pullback. EUR/USD is currently trading in the red near 1.14, having failed multiple times in the last two trading days to chew through offers near 1.15. The bull failure to push through 1.15 and the subsequent pullback to 1.14 is indicative of buyer exhaustion. Alongside that, the relative strength index on the daily and intraday charts is also signaling overbought conditions with an above-70 print. So, a notable pullback toward the ascending 5-day average, currently at 1.13 cannot be ruled out. The case for a pullback, however, would weaken if the risk aversion in the equity market worsens, boosting haven demand for the single currency. At press time, the futures on the S&P 500 are reporting a 1.6% gain. The Dow Jones Industrial Average fell by 7.8% on Monday, its biggest single-day decline ever, as prospects of an all-out Saudi-Russia oil price war bolstered the coronavirus-led risk-off sentiment in the market. 6-hour chart Trend: Pullback likely 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 NAB business survey (Feb) falls well below concensus FX Street 3 years EUR/USD's chart shows bull fatigue and suggests scope for a pullback. Sustained risk-off would weaken the case for a pullback. EUR/USD is currently trading in the red near 1.14, having failed multiple times in the last two trading days to chew through offers near 1.15. The bull failure to push through 1.15 and the subsequent pullback to 1.14 is indicative of buyer exhaustion. Alongside that, the relative strength index on the daily and intraday charts is also signaling overbought conditions with an above-70 print. So, a notable pullback toward the ascending 5-day average, currently at 1.13 cannot be ruled out. … 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.