Using the “technical Insight” research tool under the Market Analysis tab, we have identified bullish technical events on the USD/JPY and EUR/USD

Both currency pairs confirmed a moving average crossover on a daily chart.

Price Crosses Moving Average (21-day). This technical event signals technical traders that the price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars).

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Moving averages 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. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established short-term uptrend.

Source: GAIN Capital, Technical Insight

Source: GAIN Capital, Technical Insight

Check out more technical events that have been identified inside the “technical Insight” research tool under the Market Analysis tab.

Happy trading

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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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