Home EUR/USD ready to reach 1.1820, the highest since June 2018
FXStreet News

EUR/USD ready to reach 1.1820, the highest since June 2018

EUR/USD is bouncing off daily lows and trades closer to 1.18 as Thursday’s 4-hour chart is showing that bulls have room to run, Yohay Elam, an analyst at FXStreet, informs.

Key quotes

“Despite the recent rally, the Relative Strength Index on the 4-hour chart remains below the 70 level – outside overbought conditions and allowing the EUR/USD pair to continue rising.” 

“The next level to watch is 1.1820 – a high point in September 2018. Beyond that point, euro/dollar would hit the highest since June 2018 – a two-year peak. The next hurdles are 1.1850 and then only the psychologically significant 1.20 – but that would trigger overbought conditions if it happens too fast.”

“Momentum remains to the upside and EUR/USD holds above the 50, 100, and 200 Simple Moving Averages.” 

“Support awaits at 1.1780, 1.1750, and 1.17.”

 

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.