EURUSD has turned marginally bullish on the 1D timeframe (RSI = 55.444, MACD = -0.001, ADX = 39.548) but today made the second rejection on the 1D MA20 since February 22nd. Based on the 1D RSI uptrend that has started, the price action seems very much like the October 24th 2023 rejection, which pulled back near the 0.786 Fibonacci level. According to that, we expect a short-term correction at least for the pair (TP = 1.07500).
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Given your analysis, it seems like a good time to be cautious and maybe sell.
Aiman90
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IOF Bullish...
geokallides
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agreed
jvrfxalerts
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I exited my long from 1.0818 for the exact reason, the failure at the daily MA50. The risk environment is elevated with Chair Powell's testimony, ECB rate decision and US NFP on tap. This may also herald the start of a decline to the 1.0500 and below area.