Euro/dollar remains on the back foot, down almost -0.5% at 1.0897, and it is unclear if it can recover as Friday’s four-hour chart is painting a mixed picture, Yohay Elam, an analyst at FXStreet, reports. Key quotes “Momentum on the four-hour chart has all but disappeared, but EUR/USD is still trading above the 50, 100, and 200 Simple Moving Averages, a positive sign. The Relative Strength Index has stabilized after previously staying at overbought conditions.” “Support waits at 1.0895, a high point last week which has almost been touched on Friday. It is followed by 1.0870, where the 100 and 200 SMAs converge.” “Resistance is at 1.0920, a support line from early in the week, followed by 1.0950, a separator of ranges.” 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 EU needs to consider perpetual bonds, otherwise it may not survive – George Soros FX Street 2 years Euro/dollar remains on the back foot, down almost -0.5% at 1.0897, and it is unclear if it can recover as Friday's four-hour chart is painting a mixed picture, Yohay Elam, an analyst at FXStreet, reports. Key quotes “Momentum on the four-hour chart has all but disappeared, but EUR/USD is still trading above the 50, 100, and 200 Simple Moving Averages, a positive sign. The Relative Strength Index has stabilized after previously staying at overbought conditions.” “Support waits at 1.0895, a high point last week which has almost been touched on Friday. It is followed by 1.0870, where the 100 and… Top 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.
