EUR/USD

Technical Analysis



Currency Pair: EURUSD Date: 25/03/2018

Sentiment: Bullish (Long term)

Monthly
• Moving Averages crossed to the upside
• Price action showing a bullish structure
• Price broke above the consolidation range and has been bullish since
Weekly
• Moving averages crossed to the upside indicating bullish momentum
• Price action showing to be in consolidation reacting to the daily resistance level
• Price has been on a bullish structure showing higher highs and higher lows and existing momentum to carry until price reaches monthly resistance level
Daily
• Moving averages remain crossed to the downside however are converged with indication of potential upside crossover
• Price action currently reacting to the daily resistance level of 1.23621 and has thus far came to show itself being a key level
• Bearish counter trendline drawn onto chart but price hasn’t yet broken above it, it has only made a wick and closed below it with last daily candle being a strong bullish one engulfing previous day’s candle and also on previous day there being a strong bullish murobuzo candlestick serving to show that the bulls maybe be starting to take control of the market
4 Hour [Execution Time Frame]
• Moving averages about to cross to the Upside being in line with overall trend bias on the pair
• Bearish counter trendline broken by a strong bullish candle
• P.A made series of candlesticks prior to break which showed strong rejection of lower prices and also rejected of the MA
• P.A showing change in structure by changing from lower lows and lower highs to making a higher low from the lower lower
• Bearish counter trendline broken with M.A crossing prior to break indicating bullish momentum to follow
• P.A made a break and we now await a valid retest