EUR/USD on Thursday slipped below a 2-1/2-year-old descending trend-line support and thus, remains vulnerable to slide further in the opinion of FXStreet’s analyst Haresh Menghani. Key quotes “A bullish divergence of the daily RSI warrants some caution before placing any aggressive bearish bets. Hence, it will be prudent to wait for some follow-through recovery.” “A sustained strength beyond the 1.0800 mark might trigger a fresh bout of a short-covering move and lift the pair further towards the 1.0880 supply zone with some intermediate resistance near the 1.0835 level.” “The 1.0700-1.0690 region now seems to protect the immediate downside and is followed by multi-year lows support near mid-1.0600s.” 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 France’s Ndiaye: Probable that govt will have to extend lockdown period FX Street 2 years EUR/USD on Thursday slipped below a 2-1/2-year-old descending trend-line support and thus, remains vulnerable to slide further in the opinion of FXStreet’s analyst Haresh Menghani. Key quotes “A bullish divergence of the daily RSI warrants some caution before placing any aggressive bearish bets. Hence, it will be prudent to wait for some follow-through recovery.” “A sustained strength beyond the 1.0800 mark might trigger a fresh bout of a short-covering move and lift the pair further towards the 1.0880 supply zone with some intermediate resistance near the 1.0835 level.” “The 1.0700-1.0690 region now seems to protect the immediate downside and is… 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.
