Friday’s EUR / USD 4-hour chart paints a bullish picture, as the pair rises 0.60% to trade in the 1.1890 neighborhood, near the resistance of 1.19, explains the FXStreet analyst Yohay Elam.
“EUR / USD is taking advantage of the upward momentum on the 4-hour chart and trading above the simple moving averages of 50, 100 and 200. The relative strength index is still below 70, so outside the overbought conditions. “
“The currency pair challenges 1.19, Thursday’s peak and a round number. The next high is near, 1.1915, which was a high point in early August. Next is the high of 1.1965 in two years.
Support is waiting at 1.1850, which EUR / USD held before the breakout, and it is followed by 1.18, which was a cushion last week. The next levels are 1.1755 and 1.17. “