FX:EURUSD   Euro / U.S. Dollar
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EUR/USD             Daily time frame price action is showing a rebound from long term oversold and extended levels. Current price is trading above 20 and 50 Period SMA which created a Bullish ( Golden ) cross but well below 200 period SMA . Indicators like MACD and Stoch are overbought and extended. Any further upside will potentially be capped by resistance at 1.2667. The following resistance is located at 1.2833 which is significantly important as it is a 200 Day SMA and a Falling resistance trend line as well. The last resistance could be potentially located at 1.3012. Alternatively, support on the downside is located at 1.2464 followed by 1.2353 which is 50 Day SMA and 1.2262.
Our take on the eur/usd Appreciate all contrary or concordant views, comments
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