EUR/USD’s 4-hour chart shows descending triangle breakout. The rally from lows near 1.0750 seen in May has resumed. EUR/USD jumped 0.58% on Monday, confirming a descending triangle breakout on the 4-hour chart. The pattern indicates that the rally from lows near 1.0750 observed in May has resumed and the pair could soon challenge the June 10 high of 1.1422. Backing the bullish case is the 14-day relative strength index’s upside break of the descending trendline and the golden crossover of the 50- and 200-day simple moving averages confirmed last month. On the way higher, the pair may face some resistance at 1.1349 – the lower high created on June 23. On the downside, the June 19 low of 1.1168 is the level to beat for the sellers. 4-hour 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 WTI heading for a test of prior resistance towards $41.00 FX Street 3 years EUR/USD's 4-hour chart shows descending triangle breakout. The rally from lows near 1.0750 seen in May has resumed. EUR/USD jumped 0.58% on Monday, confirming a descending triangle breakout on the 4-hour chart. The pattern indicates that the rally from lows near 1.0750 observed in May has resumed and the pair could soon challenge the June 10 high of 1.1422. Backing the bullish case is the 14-day relative strength index’s upside break of the descending trendline and the golden crossover of the 50- and 200-day simple moving averages confirmed last month. On the way higher, the pair may face some resistance… 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.
