An important moving average crossover could be signaling a major reversal in the EUR/USD.

Using the “technical Insight” research tool under the Market Analysis tab, we have identified a Bullish technical event in the EUR/USD.

Double Moving Average Crossover (50-day 200-day Golden Cross)

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Moving averages (MA) are used to smooth out the volatility or “noise” in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less “jerky” than plotting the actual prices. In the double crossover method, a bullish event is generated when a faster moving average crosses above a slower moving average (21-bar MA crosses 50-bar, or 50-bar MA crosses 200-bar). In this state, the price may be starting a new uptrend. The opposite is true when the faster slips below the slower moving average, triggering a bearish event.

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DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

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