EUR/USD’s daily chart shows a bull flag pattern, a trend continuation setup. A close above 1.1932 is needed to confirm a flag breakout. EUR/USD is currently trading just above the upper end of the daily chart bull flag, which usually ends up accelerating the preceding uptrend. A breakout would be confirmed if the spot ends Wednesday above the flag resistance at 1.1932. That would imply a continuation of the rally from the July 10 low of 1.1255 and open the doors for a strong move above 1.20. The 14-day relative strength index, however, is hovering in overbought territory above 70 and so is the weekly RSI. As such, the breakout may remain elusive or fail to power immediate gains. That said, a bearish reversal needs a daily close below the Aug. 12 low of 1.1711. 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 Chainlink Technical Analysis: LINK/USD begins bullish recovery after three straight bearish days FX Street 2 years EUR/USD's daily chart shows a bull flag pattern, a trend continuation setup. A close above 1.1932 is needed to confirm a flag breakout. EUR/USD is currently trading just above the upper end of the daily chart bull flag, which usually ends up accelerating the preceding uptrend. A breakout would be confirmed if the spot ends Wednesday above the flag resistance at 1.1932. That would imply a continuation of the rally from the July 10 low of 1.1255 and open the doors for a strong move above 1.20. The 14-day relative strength index, however, is hovering in overbought territory above 70 and so… 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.
