As the EUR/USD is one of the most popular FOREX-pairs, it is never easy to show traders anything new about this instrument. Nevertheless, I am going to try to give you a wider outlook and present a short-term as well as a medium-long-term forecast.
First let me give you the short-term analysis (using the 4H graph) and point out how important this week could be.
Short-term (4H graph) analysis
If we just take a short glimpse of the EUR/USD graph, we may believe it is moving in a bear-wave. However, I have noticed many bull-signs which can indicate a trend-turnover.
First of all, it is quite apparent that the RSI (14) rebounded from the rate 49-50 several times, so it is not unfounded to think that there is a support.
It is also easy to see that the graph has significantly broken through the trend-line (which has been building for a month). Although a smaller correction has already begun, I do not believe the price will fall back because of the RSI support (see above).
Looking back in time the graph shows us clearly that the key-resistance point at 1.0520 has been tested 9 times and the price broke through only twice. So the idea above seems to be proven. In the graph above we can a…
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