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EURUSD: First 1D Golden Cross since May 2017. Trend shift?

FX_IDC:EURUSD   Euro / U.S. Dollar
EURUSD has formed the first Golden Cross (1D MA50 crossing above the 1D MA200) since May 2017. With the 1D chart neutral ( RSI = 53.756, MACD = 0.005, ADX = 23.279), the current technical candle framework appears to be similar to that of the last Golden Cross.

Right now EURUSD is still within its 2 year bearish trend (Channel Down pattern) but if this Resistance breaks, we may have a shift of the long-term trend to bullish (as it happened on June 27th 2017).



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Comments

I believe that the EURUSD is in an extended bear market sin Aug / 2008 when it reached the ATH. I think it would continue to be and perhaps the parity will reverse (for example seeing values of 0.9)
+1 Reply
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