EURUSD: dollar weakness on the horizon?
Starting to break through some major resistance.
Trend: BULLISH above 1.1750 (dollar weakness)
Momentum: Downside, which is a concern to the bullish trend.
Overbought/Oversold: RSI at 29 – oversold.
Linear regression channel: The red and blue parallel lines are the 200-day linear regression channel pattern. The price action remains fairly close to the lower range of this pattern, increases the likelihood of a sudden temporary pullback and mean reversion trade.
Trend: BULLISH above 1.1750 (dollar weakness)
Momentum: Downside, which is a concern to the bullish trend.
Overbought/Oversold: RSI at 29 – oversold.
Linear regression channel: The red and blue parallel lines are the 200-day linear regression channel pattern. The price action remains fairly close to the lower range of this pattern, increases the likelihood of a sudden temporary pullback and mean reversion trade.