EUR/USD is trading flat on the day at 1.1905 while bulls are ready to restart the rally as Monday's 4-hour chart is pointing to further gains with resistance seen at the 1.1930 daily high,
Yohay Elam, an analyst at FXStreet, briefs.
Key quotes
“EUR/USD is trading above the 50, 100, and 200 Simple Moving Averages on the 4-hour chart and benefits from upside momentum. The Relative Strength Index is below 70, thus outside overbought conditions.”
“Resistance awaits at 1.1930, the daily high, followed by 1.1965 – the two-year high recorded in mid-August. Further above, the psychologically significant 1.20 level is looming.”
“Support is at 1.1880, a swing high from last week, followed by 1.1850, which was a stubborn cap before the rally. The next levels to watch are 1.1750 and 1.17.”
EUR/USD: Bulls about to resume the rally
| S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
| 1.1728 |
1.1769 |
1.1837 |
1.1945 |
1.1987 |
1.2054 |
| Trend Index |
OB/OS Index |
| StronglyBullish |
Neutral |
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