Skype: Signal2forex / Whatsapp: +79065178835

No products in the cart.

EUR/USD Outlook: Bulls Struggle At 100SMA, No Clear Direction Signal As Techs Are Mixed

The Euro holds in green for the third straight day and extended advance to new two-week high at 1.1450.

Bulls were capped by 100SMA so far and may struggle to break higher despite strong bullish signal generated on Monday’s close above daily cloud top (1.1418), as technical studies on daily chart are mixed (bearish momentum is strengthening and slow stochastic is overbought) that produces negative signal, while MA’s (10/20/30/55) are in bullish setup.

Repeated close above cloud top would give bulls additional boost, but cloud twists next week, requiring caution.

– advertisement –

Return and close below within the cloud would generate negative signal and risk further weakness.

Bullish scenario requires close above 100SMA and violation of next pivotal barrier at 1.1462 (Fibo 61.8% of 1.1569/1.1289) to signal extension of bull-leg from 1.1289 (24 Jan low).

Res: 1.1450, 1.1462, 1.1489, 1.1503
Sup: 1.1429, 1.1418, 1.1396, 1.1377

For traders: our Portfolio of forex robots for automated trading has low risk and stable profit. You can try to test results of our download forex ea
Signal2forex review

Share this product!

Do you want to start trade profitably?
Earn 50-300% monthly!