EUR/USD is currently trading above the key falling trendline, which had reversed gains on May 1. A close above 1.1218 would confirm trendline breakout and open the doors to levels above 1.13. EUR/USD has crossed the resistance of the trendline connecting March 20 and April 17 highs in Asia. As of writing, the pair is trading at 1.1226 – just above the trendline hurdle of 1.1218. That falling trendline had reversed rally on May 1. As a result, a break higher, if confirmed with a daily close above 1.1218, could invite strong buying pressure, yielding a retest of April highs above 1.1320. That looks likely as the 14-day relative strength index (RSI) is now hovering just above 50 with the 5- and 10-day moving averages (MAs) beginning to curl upwards. The rise to 1.1320, however, may remain elusive if the 50-day moving average, currently at 1.1251, proves a tough nut to crack and ends up pushing the spot below the previous day’s low of 1.1173. Daily chart Trend: Neutral Pivot points 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 braced for trade talk noise, correcting over 23.6% into a bull trap FX Street 3 years EUR/USD is currently trading above the key falling trendline, which had reversed gains on May 1. A close above 1.1218 would confirm trendline breakout and open the doors to levels above 1.13. EUR/USD has crossed the resistance of the trendline connecting March 20 and April 17 highs in Asia. As of writing, the pair is trading at 1.1226 - just above the trendline hurdle of 1.1218. That falling trendline had reversed rally on May 1. As a result, a break higher, if confirmed with a daily close above 1.1218, could invite strong buying pressure, yielding a retest… 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.
