EURUSD: First 1D Golden Cross since May 2017. Trend shift?
EURUSD has formed the first Golden Cross (1D MA50 crossing above the 1D MA200) since May 2017. With the 1D chart neutral (RSI = 53.756, MACD = 0.005, ADX = 23.279), the current technical candle framework appears to be similar to that of the last Golden Cross.
Right now EURUSD is still within its 2 year bearish trend (Channel Down pattern) but if this Resistance breaks, we may have a shift of the long-term trend to bullish (as it happened on June 27th 2017).
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Right now EURUSD is still within its 2 year bearish trend (Channel Down pattern) but if this Resistance breaks, we may have a shift of the long-term trend to bullish (as it happened on June 27th 2017).
** If you like our free content follow our profile to get more daily ideas. **
Comments and likes are greatly appreciated.
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