EUR/USD registers another failure to cross 50-day SMA. The two-week-old rising trend line, 21-day SMA limits immediate declines. RSI seesaws inside the normal territory. With its another failure to rise past-50-day Simple Moving Average (SMA), EUR/USD declines to 1.1030 during early Wednesday. The quote now aims to revisit an upward sloping support line since the month’s start, at 1.1010. Though, the pair’s further downside could be limited by 21-day SMA level of 1.0985. In a case where bears refrain from respecting short-term moving average, 1.0930/25 and monthly bottom surrounding 1.0880 could flash on their radars. Alternatively, the pair’s successful run-up beyond 50-day SMA level of 1.1040 can escalate the recovery towards 38.2% Fibonacci retracement of June-September downside, at 1.1080. However, 1.1140/45 region encompassing 100-day SMA and 50% Fibonacci retracement could keep buyers troubled during the quote’s rise above 1.1080. It should also be noted that 14-bar Relative Strength Index (RSI) stays inside normal territory between 70 and 30 levels, which in turn signals continuation of the present trading pattern. EUR/USD daily chart Trend: pullback expected 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 AUD/USD technical analysis: Teasing flag breakdown on Sino-US tensions FX Street 4 years EUR/USD registers another failure to cross 50-day SMA. The two-week-old rising trend line, 21-day SMA limits immediate declines. RSI seesaws inside the normal territory. With its another failure to rise past-50-day Simple Moving Average (SMA), EUR/USD declines to 1.1030 during early Wednesday. The quote now aims to revisit an upward sloping support line since the month's start, at 1.1010. Though, the pair's further downside could be limited by 21-day SMA level of 1.0985. In a case where bears refrain from respecting short-term moving average, 1.0930/25 and monthly bottom surrounding 1.0880 could flash on their radars. Alternatively, the pair's successful run-up… 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.
