EURUSD No long term rebound starts until the 1W MA100 breaks
The EURUSD pair is rising non stop since the end of September and this week broke above the 1W MA50 (blue line) for the first time since June 2021. Though technically a major break out, history shows that this alone is not enough to justify a continuation of the uptrend.
Since 2015, EURUSD extends the rise only when the 1W MA100 breaks (green line) and even then, it first makes one last fall before a new high. The 1W RSI in fact is similar to the massive rise of early 2015, which consolidated for nearly 2 years before finally breaking to the upside.
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Since 2015, EURUSD extends the rise only when the 1W MA100 breaks (green line) and even then, it first makes one last fall before a new high. The 1W RSI in fact is similar to the massive rise of early 2015, which consolidated for nearly 2 years before finally breaking to the upside.
Follow us, like the idea and leave a comment below!!
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