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EURUSD beats 200-day SMA for first time in a year
EURUSD staged a quick recovery last week, with the price crawling above the 200-day simple moving average (SMA) for the first time in more than a year. On Monday, the bullish pattern gained extra credence as the pair extended its positive momentum towards a new three month high of 1.1385. According to the RSI, which maintains a positive slope above its 50 neutral mark, there is still some upside in store. The indicator, however, is not far above the 70 overbought level, a sign that downside corrections may soon emerge. Stochastics are also approaching the overbought region. Another step higher may meet nearby ... (full story)