On the Daily chart we can see that EURUSD has been trading below the 50 EMA for a while now, and it failed to break above it. Although it's still been trading above the 200 EMA.
It bounced off almost a touch on the 200 EMA, which is a sign of strength to the EURUSD.
I'm bullish on the pair until I see a break below the 200 EMA, or if a death cross appears (where the 50 EMA crosses over the 200 EMA to the down side).
It bounced off almost a touch on the 200 EMA, which is a sign of strength to the EURUSD.
I'm bullish on the pair until I see a break below the 200 EMA, or if a death cross appears (where the 50 EMA crosses over the 200 EMA to the down side).