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EURUSD rises back above SMAs but limited gains are expected
EURUSD is holding below the strong resistance obstacle of the 23.6% Fibonacci retracement level around 1.1760, over the last month. However, over Friday’s trading session the world’s most traded currency surpassed the 20- and 40-simple moving averages (SMAs) in the daily timeframe, indicating a possible upside correction. Having a look at the technical indicators, the RSI is flattening slightly above the threshold of 50, while the MACD oscillator failed to jump into the positive territory but still stands above the trigger line. It is worth mentioning that the moving averages are in the process of posting a ... (full story)