EUR/USD has hit the highest level since September 16. The relative strength index is reporting strongest bullish bias in nearly four months. EUR/USD is better bid near the one-month high of 1.1086 registered in the North American session on Wednesday and could challenge key resistance at 1.1110 in the next 24 hours, as a widely followed technical indicator is reporting strongest bullish bias since June. The 14-day relative strength index, an indicator used to gauge the market trend and overbought/oversold conditions, is currently seen at 60.27, the highest level since June 28. A reading above 50 indicates bullish conditions. The common currency has also found acceptance above the 50-day moving average for the first time since July 18. Further, the 5- and 10-day moving averages are trending north, indicating a bullish setup. The outlook would turn bearish if the pair closes below 1.0991 – the low of Tuesday’s long-tailed candle – although, as of writing, that looks unlikely. 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 GBP/USD technical analysis: 61.8% Fibo, April low question buyers amid overbought RSI FX Street 4 years EUR/USD has hit the highest level since September 16. The relative strength index is reporting strongest bullish bias in nearly four months. EUR/USD is better bid near the one-month high of 1.1086 registered in the North American session on Wednesday and could challenge key resistance at 1.1110 in the next 24 hours, as a widely followed technical indicator is reporting strongest bullish bias since June. The 14-day relative strength index, an indicator used to gauge the market trend and overbought/oversold conditions, is currently seen at 60.27, the highest level since June 28. A reading above 50 indicates bullish conditions. The… 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.
