EUR/USD/Technical Analysis

EUR/USD: 50-day MA clearly above 200-day MA for first time in over a year

It was around this time last year that the 50-day MA last crossed the 200-day MA (bearish cross), and for much of that time the EUR/USD has been in a solid bearish trend. Now that we’ve had a bullish cross, look for many of the macro macro players to start unwinding long term positions. This could be the signal which drives the EUR/USD out of its range trading mode (forlorn hope) and for now at least the stars are more positively aligned for the bulls.

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