The change in sentiment cut off the EUR/USD’s rally, which sent the world’s most popular currency pair to nearly 1.10 on Wednesday, a two-week high, but Thursday’s four-hour chart is pointing to the potential for resuming the rally, FXStreet’s analyst Yohay Elam briefs. Key quotes “The Relative Strength Index on the four-hour chart has dropped below 70, exiting overbought conditions. That is a bullish sign that joins upside momentum. EUR/USD is trading above the 50, 100, and 200 Simple Moving Averages.” “Resistance awaits at 1.0975, a swing high earlier this week. It is followed by 1.10, the peak on Wednesday.” “Some support is at the daily low of 1.0950, and it is followed by 1.0920, a stepping stone on the way up.” 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 Cryptocurrency Market News: Bitcoin recovery from $9,500 still eyes $10,000 FX Street 2 years The change in sentiment cut off the EUR/USD's rally, which sent the world's most popular currency pair to nearly 1.10 on Wednesday, a two-week high, but Thursday's four-hour chart is pointing to the potential for resuming the rally, FXStreet’s analyst Yohay Elam briefs. Key quotes “The Relative Strength Index on the four-hour chart has dropped below 70, exiting overbought conditions. That is a bullish sign that joins upside momentum. EUR/USD is trading above the 50, 100, and 200 Simple Moving Averages.” “Resistance awaits at 1.0975, a swing high earlier this week. It is followed by 1.10, the peak on Wednesday.” … Top 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.
