EUR/USD was once very bullish for many of final 12 months, climbing from 1.08 in March, to above 1.23 by the primary week of January, because the U
EUR/USD was once very bullish for many of final 12 months, climbing from 1.08 in March, to above 1.23 by the primary week of January, because the USD saved declining decrease. However, the USD decline stalled in January and we noticed a reversal under 1.20 by the primary week of February.
However, the 100 SMA (inexperienced) was assist on the each day chart, holding the decline. EUR/USD bounced off this transferring common and climbed round 300 pips larger this month, transferring above the 50 SMA (yellow) yesterday.
However, we noticed a fast reversal and yesterday’s candlestick closed as an upside-down pin, which is a bearish reversing sign. In the present day’s sign already appears to be like fairly bearish, so sellers are in management once more. This exhibits that the patrons couldn’t resume the bullish development. Now EUR/USD is heading down, however we’ll see if the 100 SMA will maintain once more when the worth will get down there. If it breaks, then this would be the finish of the 1-year bullish development.