EUR/USD stays below 200-bar SMA. A downside break could recall October 08 low. 38.2% Fibonacci retracement adds to the resistance. Despite staying below 200-bar Simple Moving Average (SMA), EUR/USD bounces off 61.8% Fibonacci retracement of its October month upside while taking rounds to 1.1006 during early Thursday. Favoring the price pullback is a bullish signal from 12-bar Moving Average Convergence and Divergence (MACD). However, bulls are likely to wait for an upside break of 200-bar SMA, at 1.1058 now, followed by 38.2% Fibonacci retracement and late-October lows surrounding 1.1065/75, to target 1.1100 mark. In a case where prices keep trading southwards and break 1.0994 level of 61.8% Fibonacci retracement, October 08 low near 1.0940 and the previous month bottom around 1.0880 will be the bears’ favorites. EUR/USD 4-hour chart Trend: Bearish 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 Hong Kong’s civil unrest and chaos enters a fourth day FX Street 3 years EUR/USD stays below 200-bar SMA. A downside break could recall October 08 low. 38.2% Fibonacci retracement adds to the resistance. Despite staying below 200-bar Simple Moving Average (SMA), EUR/USD bounces off 61.8% Fibonacci retracement of its October month upside while taking rounds to 1.1006 during early Thursday. Favoring the price pullback is a bullish signal from 12-bar Moving Average Convergence and Divergence (MACD). However, bulls are likely to wait for an upside break of 200-bar SMA, at 1.1058 now, followed by 38.2% Fibonacci retracement and late-October lows surrounding 1.1065/75, to target 1.1100 mark. In a case where prices keep trading… 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.
