EURUSD TECHNICAL ANALYSIS

EURUSD on the daily time frame and still within a sideways channel. 1

Price found support around the 1.2220 level and have staged a bullish come back for 4 days. Today, price have the option of continuing its bullish rebound or to fall and retest the 15 exponential moving average.

Topside, we still have some room to move before me meet any form of resistance.

Above 1.240 and we might see the bears coming in to test the bull’s resolve.

MACD histogram is above the zero line and its histogram shows green. It has yet to break above the zero line but the momentum is bullish based on the indicator.

CONCLUSION

We are BULLISH on EURUSD at the moment and would prefer to take long position on pullback to dynamic support.

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Ardy Ismail

Lead Currency Strategist / Team Forexachievers