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EURUSD capped by 20-day SMA; lacks clear direction in medium term

From xm.com

{video}EURUSD has been in a declining move over the last two weeks after the pullback off the 1.1420 resistance level. Currently, the pair is lacking direction in the medium-term, however, the 40-day simple moving average (SMA) posted a bullish cross with the 200-day SMA. The RSI is marginally sloping up near the neutral threshold of 50, while the MACD is still losing ground below its trigger line. The price is capped by the 20-day SMA and looks ready to find support at the 1.1145 barrier. Clearing this key region, it would hit the 1.1020 support, which overlaps with the aforementioned bullish cross of the SMAs and ... (full story)

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  • Category: Technical Analysis