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EUR/USD Bulls Look to Close Above MA

By Al BrooksCurrenciesJun 08, 2023 09:26AM ET
www.investing.com/analysis/eurusd-bulls-look-to-close-above-ma-200638857
EUR/USD Bulls Look to Close Above MA
By Al Brooks   |  Jun 08, 2023 09:26AM ET
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EUR/USD
-0.09%
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EUR/USD-Daily Chart
EUR/USD-Daily Chart

  • The EUR/USD is going sideways in a tight trading range just below the moving average.
  • The bears have 19 bars completely below the moving average, a sign of bear strength.
  • However, a tight trading range indicates a lack of momentum. Bears are happy to sell below the moving average if the momentum down justifies selling low.
  • Here, the momentum does not justify selling far below the moving average. This means there are buyers not far below the moving average, and bears will likely begin to sell near the moving average.
  • The market will probably have to reach the moving average and possibly close above it over the next few days. This means traders should expect a couple of days from sideways to up.
EUR/USD Bulls Look to Close Above MA
 

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EUR/USD Bulls Look to Close Above MA

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Comments (4)
ZABRON ERNEST
PipsMaker2023 Jun 19, 2023 11:47AM ET
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Hello Al Brooks how are you doing. You have stopped posting on https://investing.com on Daily basis what happened?
Babamyrat B
Babamyrat B Jun 08, 2023 1:14PM ET
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Thank u sir thank u
ZABRON ERNEST
PipsMaker2023 Jun 08, 2023 10:34AM ET
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thank you sir you are indeed professional in analysing the market bar by bar. looking forward to paying for your trading course
Stanley Goodspeed
StanleyGo Jun 08, 2023 10:34AM ET
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are you serious ?
Sanaullah Aleef
Sanaullah Aleef Jun 08, 2023 10:23AM ET
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thanks sir
 
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