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EURUSD Technical Analysis

On the daily chart below for EURUSD, we can see that the buyers tried to sustain a break above the 1.1033 high multiple times but without much success. The red long period moving average was acting as support for the pullbacks, but now the moving averages have crossed to the downside which is a bad omen for the buyers and a good sign for the sellers. The price has been diverging with the MACD for a long time, which may be a sign that the whole uptrend was based on weak bases. This may turn into... Read More

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Content Topics

Eurusd

Technical

Analysis

Forex

Posted: May 11 2023, 09:27

Author Name: forexlive

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