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EURUSD holds above long-term support trendline; neutral in short-term
video EURUSD has been in a consolidating mode since February 6 and is holding within the 20- and the 50-day simple moving averages (SMAs). Also, the 23.6% Fibonacci retracement level of the upward wave from 0.9535 to 1.1030 at 1.0680 is acting as strong resistance for the bulls. However, in the longer timeframe, the pair is still bullish as it is holding above the uptrend line, drawn on September 28. From the technical perspective, the MACD oscillator is holding slightly above its trigger line in the negative region, while the RSI is pointing marginally south near the neutral threshold of 50. Should EURUSD make a ... (full story)
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- Posted: Mar 20, 2023 6:42am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 751
