The U.S. Dollar Bullish Against The Euro | Rising Channel

18 Mar 2020

Today we are looking at the U.S. Dollar / Euro (USDEUR), a chart that was going full bearish just had a strong reversal... let's take a look!

• Prices peaked in mid-Feb. for USDEUR and three strongly bearish candles followed.
  
• Last week's candle saw a long-wick and a strong bounce as soon as MA200 was tested.
  
• Now, USDEUR is trading above all major resistance in the form of E/MAs (EMA10, EMA50, EMA100, and MA200). These levels will now work as support.
  
• The RSI and MACD are both strong and bullish, opening the door for additional growth.
  

What happens next?

If USDEUR can stay and close weekly above 0.9180, we are likely to see additional growth.
But if instead prices move lower and close below 0.9170, we can expect a retrace.

Right now USDEUR is looking bullish.

All the important support and resistance levels are clearly marked on the chart. You can zoom out for more.

Thanks a lot for reading.

This is not financial advice.

Namaste.