Change of course or just a correction? That is the question for EUR/USD traders and the answer leans to the latter while Friday’s 4-hour chart is painting a mixed picture, as FXStreet’s analyst Yohay Elam notes. The pair is nearing the 1.1838 daily low as of writing. Key quotes “Euro/dollar continues suffering from downside momentum on the 4-hour chart, but it has overcome the 50, 100, and 200 Simple Moving Averages. With the Relative Strength Index hovering around 50, the picture is well balanced.” “Some resistance awaits at the daily high of 1.1860, followed by the swing high of 1.1920. The next lines to watch are 1.1965 and 1.2010.” “Support is at 1.1830, where the 50 SMA hits the price. It is followed by 1.1785, a swing low from early September, and then by 1.1760 and 1.1730, recent lows.” 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 BI: An interest rate cut is not ruled out yet – UOB FX Street 2 years Change of course or just a correction? That is the question for EUR/USD traders and the answer leans to the latter while Friday's 4-hour chart is painting a mixed picture, as FXStreet’s analyst Yohay Elam notes. The pair is nearing the 1.1838 daily low as of writing. Key quotes “Euro/dollar continues suffering from downside momentum on the 4-hour chart, but it has overcome the 50, 100, and 200 Simple Moving Averages. With the Relative Strength Index hovering around 50, the picture is well balanced.” “Some resistance awaits at the daily high of 1.1860, followed by the swing high of 1.1920.… 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.
