EURUSD indicating uptrend to continue following French Election
Using the cross Gann Fans, the shorter term fan has been consistently holding the price uptrend within the 1/1-2/1 range while the longer term Fans continued and held the price downtrend within it's equivalent range of zone. RSI having risen above 50 and standing currently at 57 indicates that there is still a lot of room for pricing to continue upwards. The short term (blue) MACD line rising above the longer term (orange) is also showing momentum to be increasing as it heads to cross above the 0 line into a higher momentum levels. Both MACD and RSI trendlines increasing, along with overall price trendline also increasing, supports the signals being given off by these indicators. The Aroon indicator also supports the analysis as it is demonstrating the strength of the downtrend decreasing relative to the maxed out strength of the uptrend, thus indicating a continuation of an increase in uptrend strength-to-downtrend strength ratio. As price levels test out 50% retracement zone from2017 bottoming, it will also be testing out the effectiveness of the longer terms Gann Fanns 3/1-4/1 zone, and if price uptrend is to continue then this zone indicates that it will be uptrending at a decelerating rate.
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