EU whales swimming north
The EURUSD currency pair is currently in a bullish market trend. This is indicated by the 20-day exponential moving average trending upward while the price is making higher highs and respecting previous lows. The relative strength index (RSI) is showing a strong jump above the midline and is diverging in favor of buyers. Additionally, the commodity channel index (CCI) is displaying signs of significant strength from buyers. However, it's worth noting that the EURUSD has a tendency to consolidate, so it may be wise to wait for better entry prices in the 1.0760 support zone.
Overall, the trend is bullish for the EURUSD and various moving averages such as 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day are also showing a buy signal. The Ichimoku Base Line (9, 26, 52, 26) is neutral. The Hull Moving Average (9) is also showing a buy signal.
It's also worth mentioning that the broader market is currently experiencing some uncertainty and indecision, which could impact the movement of the EURUSD. Additionally, the US dollar has been in a bearish trend over the past three months. However, considering the dollar index is currently at the midpoint of its 2021-2022 bull trend, it's possible that the market has already discounted any potential shortcomings.
The information provided by LewkP is for educational and informational purposes only. It should not be considered financial or investment advice. The analysis presented may not be suitable for all investors. Any opinions expressed in this analysis are solely those of LewkP and do not represent the opinions of any other party. LewkP does not provide financial advice and any analysis provided should not be used as the sole basis for making investment decisions. LewkP does not intend for the analysis to be used for intraday trading. LewkP advises that any trading should only be done with caution and only by individuals who are fully in control of their emotions and have a high risk tolerance. LewkP is not responsible for any losses incurred as a result of using the information provided.
Overall, the trend is bullish for the EURUSD and various moving averages such as 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day are also showing a buy signal. The Ichimoku Base Line (9, 26, 52, 26) is neutral. The Hull Moving Average (9) is also showing a buy signal.
It's also worth mentioning that the broader market is currently experiencing some uncertainty and indecision, which could impact the movement of the EURUSD. Additionally, the US dollar has been in a bearish trend over the past three months. However, considering the dollar index is currently at the midpoint of its 2021-2022 bull trend, it's possible that the market has already discounted any potential shortcomings.
The information provided by LewkP is for educational and informational purposes only. It should not be considered financial or investment advice. The analysis presented may not be suitable for all investors. Any opinions expressed in this analysis are solely those of LewkP and do not represent the opinions of any other party. LewkP does not provide financial advice and any analysis provided should not be used as the sole basis for making investment decisions. LewkP does not intend for the analysis to be used for intraday trading. LewkP advises that any trading should only be done with caution and only by individuals who are fully in control of their emotions and have a high risk tolerance. LewkP is not responsible for any losses incurred as a result of using the information provided.
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discord.gg/a7sfTVkgxc
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.