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EUR/USD: Bulls are back in full force

EUR/USD is trading in the green above 1.18 as Thursday's 4-hour chart is showing that bulls are in control. Yohay Elam, an analyst at FXStreet, notes that

Yazar: editor_1

Yayınlanma: 13 Ağustos 2020 12:53

Güncellenme: 7 Kasım 2024 18:40

EUR/USD: Bulls are back in full force

13 August 2020, 10:32
EUR/USD is trading in the green above 1.18 as Thursday's 4-hour chart is showing that bulls are in control. Yohay Elam, an analyst at FXStreet, notes that the pair set a higher low as rebounded above the 1.17 level and now faces resistance at 1.1850.

Key quotes

“EUR/USD has recaptured the 50 Simple Moving Average on the 4-hour chart and momentum turned positive. Moreover, the world's most popular currency pair bottomed out above the 1.17 level – setting a higher low. The Relative Strength Index remains below 70, thus outside overbought conditions.” “Resistance awaits at 1.1850, which provided support last week, and then by 1.1915, the two-year high set around the same time. The next level is the psychologically critical 1.20.” “Support awaits at 1.1805, which capped EUR/USD earlier in the week. Further down, 1.1750 and the 1.17 level mentioned earlier await EUR/USD.”  
EUR/USD 0001-01-01T00:00:00
0/0 (0%)
H0 L0
S3 S2 S1 R1 R2 R3
1.1619 1.1665 1.1725 1.1830 1.1876 1.1935
Trend Index OB/OS Index
Bearish Neutral
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