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TODAY EURUSD SIGNAL : EURUSD Price Analysis Bullish grind towards 1.0600 stays intact

TODAY EURUSD SIGNAL

TODAY EURUSD SIGNAL : EURUSD Price Analysis Bullish grind towards 1.0600 stays intact

  • EUR/USD retreats from intraday high within an immediate trend widening pattern.
  • Sustained trading beyond 200-HMA, firmer RSI keeps buyers hopeful.
  • One-week-old ascending trend line adds to the upside filters before the monthly high.

 

TODAY EURUSD SIGNAL : EUR/USD pares intraday gains inside a bullish megaphone as buyers struggle to extend the previous week’s recovery moves amid a sluggish Asian session on Monday.

Even so, the above-50 status of the RSI (14) joins the major currency pair’s ability to stay beyond the 200-HMA to underpin the bullish bias.

That said, the latest pullback remains elusive until staying beyond the stated megaphone’s support line, near 1.0525.

TODAY EURUSD SIGNAL : Also acting as immediate support is an upward sloping trend line from May 13, close to 1.0515, as well as the 200-HMA level of 1.0490.

Meanwhile, 1.0590 and the recent swing high of the 1.0600 may entertain buyers before the weekly resistance line, close to 1.0640 at the latest, will test the upside further.

In a case where EUR/USD remains firmer past 1.0640, the odds favoring the pair’s run-up towards the mid-April low near 1.0755 can’t be ruled out.

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FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

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Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via Exinity Services Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus.

Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs.

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