EUR/USD Bulls Want a Close Above Moving Average

EUR/USD
0.00%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

EUR/USD Daily Chart

• The EUR/USD is trying to get a close above the exponential moving average (blue line) and damage the argument of a bear trend.
• The market has had 24 out of 25 closes below the moving average, which is a sign of strong selling pressure. This will increase the market’s odds of transitioning into a trading range, not a bull trend.
• The bulls will probably get a couple of legs up soon, and the market will go sideways. One target for the bulls is a test of the February 14th high, which was the start of the bear channel.
• The bears will see any rally as forming a double top. Next, they will want a major trend reversal.
• The bulls will want trend resumption. However, they will need a strong upside breakout above the February high to get this.
• Overall, traders should expect more sideways trading and confusion.

Source