EUR/USD has violated a bearish lower highs setup. Daily chart indicators suggest scope for an extension of the ongoing rally. EUR/USD closed well above Sept. 13’s high of 1.1110 on Thursday, invalidating the bearish lower highs setup. The pair charted multiple lower highs and lower lows in the three months to Oct. 1. The invalidation of the bearish lower highs is accompanied by an above-50 reading on the relative strength index (RSI) and the ascending 5- and 10-day moving averages (MA). Further gains, therefore, looks likely but may be seen after a brief pullback as the RSI is reporting overbought conditions on the hourly and 4-hour charts. AS of writing, the pair is sidelined around 1.1126, having hit a high of 1.1140 on Thursday. Daily 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 USD/JPY: Bulls in the driver’s seat looking to the 200-DMA FX Street 4 years EUR/USD has violated a bearish lower highs setup. Daily chart indicators suggest scope for an extension of the ongoing rally. EUR/USD closed well above Sept. 13's high of 1.1110 on Thursday, invalidating the bearish lower highs setup. The pair charted multiple lower highs and lower lows in the three months to Oct. 1. The invalidation of the bearish lower highs is accompanied by an above-50 reading on the relative strength index (RSI) and the ascending 5- and 10-day moving averages (MA). Further gains, therefore, looks likely but may be seen after a brief pullback as… 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.
