EUR/USD remains on the back foot for more than a week. 200-HMA, multiple highs since August 15 limit near-term upside. With the short-term key resistance-confluence has aptly been limiting the EUR/USD pair’s upside, the quote drops to 1.1073 during Asian session on Friday. Prices are now likely declining towards 1.1066/63 area including latest lows while August 01 bottom around 1.1027 becomes the key support to watch. On the upside, multiple tops since August 15 and 200-hour moving average (HMA) emphasize the importance of 1.1113/20 region as the resistance, a break of which can quickly propel prices to 1.1132 and 61.8% Fibonacci retracement level of 1.1167. It should also be noted that 12-bar moving average convergence and divergence (MACD) indicator recently flashed bearish signal on the hourly chart. EUR/USD hourly 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 AUD/USD: Bears waiting to pounce when price gets below critical support FX Street 4 years EUR/USD remains on the back foot for more than a week. 200-HMA, multiple highs since August 15 limit near-term upside. With the short-term key resistance-confluence has aptly been limiting the EUR/USD pair's upside, the quote drops to 1.1073 during Asian session on Friday. Prices are now likely declining towards 1.1066/63 area including latest lows while August 01 bottom around 1.1027 becomes the key support to watch. On the upside, multiple tops since August 15 and 200-hour moving average (HMA) emphasize the importance of 1.1113/20 region as the resistance, a break of which can quickly propel prices to 1.1132 and 61.8%… 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.
