EURUSD – Critical level on monthly chart

FX:EURUSD   Euro / U.S. Dollar
This week’s close around 1.2200 was a new higher high above September high level of 1.2100. This is a long-term bullish signal unless it is a false break-out.

1.2200 level is critical as:
- It corresponds to Fibo 50.0 retracement level (of 2000-2008 rally)
- EMA100 & EMA200 are aligned horizontally, and are very close to each other. Price is testing to break both of these lines
- Meanwhile EMA10 came from below to cross EMA50
- RSI is almost breaking level 60 (for the first time since 2008)
- Stochastic indicator stays in overbought region, which is a very bullish signal
- Momentum is strongly upside and targets to reach 2008-2012 highs

Technically EUR_side is much more stronger now, and USD_bulls has to do something before it is too late. Otherwise, indicators reveal a long-term EUR rally.
Rest of January and the monthly closing level shall show us the outcome.


trump does not like powerful $
bullish will go up
Great summary.. Thanks for taking the time.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out