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EURUSD Technical Analysis on the Daily Time Frame on 12th April 2018

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

By |2018-04-12T12:47:17+00:00April 12th, 2018|Categories: Daily Technical Strategy, EUR Crosses, USD Crosses|Tags: |0 Comments

About the Author:

Ardy is a Professional Forex Trader specializing in the Forex market. He trades using both Technical and Fundamental Analysis and mentors other traders how to trade the Forex market using proprietary trading strategies which he has developed over the years. He started investing in equities in 1999 and trading Forex in 2008. He is the founder and lead currency strategist @ Forexachievers.com

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