JakeSummers4x

Weekly Bullish Pennant right into 50SMA

FX:EURUSD   Euro / U.S. Dollar
Hi guys,

I've had these ranges plotted for a few weeks now, and it's really helping me see this pair more clearly.

We're currently underneath the 50SMA and have been for some time, but with the bullish pennant forming on the weekly, we may be in for some change.

I've marked out some strong areas for support, and a long test wick candle.

My bias will remain neutral until I see some further confirmation, paying particular attention to how we react to the 50SMA.

Happy trading.

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