“¢ The pair extended overnight bearish break below a short-term ascending trend-line support and weakened farther below the 1.1600 handle on Friday. “¢ Technical indicators on the hourly charts drifted into oversold territory and could be the only possible reason behind a modest rebound seen over the past few hours. “¢ However, given the bearish set-up, the current recovery might still be seen as a dead-cat bounce and could attract some aggressive selling at higher levels. “¢ A slightly better-than-expected NFP print will be enough to prompt fresh selling and drag the pair back towards YTD lows, closer to the key 1.1500 psychological mark. EUR/USD 4-hourly chart Spot Rate: 1.1597 Daily Low: 1.1562 Trend: Bearish Support S1: 1.1555 (S1 daily pivot-point) S2: 1.1508 (YTD low set on June 21) S3: 1.1479 (July 20, 2017 swing low) Resistance R1: 1.1615 (ascending trend-line support break-point) R2: 1.1667 (100-period SMA H1) R3: 1.1698 (R2 daily pivot-point) 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 DXY Technical Analysis: Now targets 2018 peak at 95.65 FX Street 5 years "¢ The pair extended overnight bearish break below a short-term ascending trend-line support and weakened farther below the 1.1600 handle on Friday. "¢ Technical indicators on the hourly charts drifted into oversold territory and could be the only possible reason behind a modest rebound seen over the past few hours. "¢ However, given the bearish set-up, the current recovery might still be seen as a dead-cat bounce and could attract some aggressive selling at higher levels. "¢ A slightly better-than-expected NFP print will be enough to prompt fresh selling and… 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.
