EUR/USD begins the week on a back foot. 50-HMA, two-week-old support line test intraday sellers ahead of confirming the bearish chart pattern. 200-HMA adds to the downside filters, bulls need clear break of 1.2000 for fresh entries. EUR/USD holds lower ground near 1.1975, down 0.07% intraday, following a sluggish start to the week’s trading during Monday’s Asian session. In doing so, the sellers battle 50-HMA while teasing the double-top bearish chart formation on the hourly play. Given the recently downbeat Momentum, coupled with rejection below the 1.2000 threshold, EUR/USD may witness further pullback. However, sellers may wait for a clear break below the 1.1950 horizontal support before taking fresh entries. While a downside break of 1.1950 will confirm the bearish chart pattern, directing the quote towards the 1.1900 round-figure, 200-HMA and an upward sloping trend line from April 05, respectively around 1.1965 and 1.1920, add to the downside filters. Alternatively, EUR/USD buyers should wait for a clear upside break of the 1.2000 hurdle before eyeing the mid-February lows near 1.2025 during the fresh recovery moves. EUR/USD hourly chart Trend: Further weakness expected 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 Sources: China opens its borders to billions of dollars of gold imports – Reuters FX Street 2 years EUR/USD begins the week on a back foot. 50-HMA, two-week-old support line test intraday sellers ahead of confirming the bearish chart pattern. 200-HMA adds to the downside filters, bulls need clear break of 1.2000 for fresh entries. EUR/USD holds lower ground near 1.1975, down 0.07% intraday, following a sluggish start to the week's trading during Monday's Asian session. In doing so, the sellers battle 50-HMA while teasing the double-top bearish chart formation on the hourly play. Given the recently downbeat Momentum, coupled with rejection below the 1.2000 threshold, EUR/USD may witness further pullback. However, sellers may wait for a clear… 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.
