- EUR/USD's daily MACD has crossed above zero, confirming a bullish reversal.
- The pair looks set to invalidate bearish lower highs setup.
The MACD histogram, an indicator used to identify trend strength and trend changes, has crossed above zero, signaling a bearish-to-bullish trend change.
The 14-day relative strength index is also reporting bullish conditions with an above-50 print.
The pair, therefore, appears on track to violate resistance at 1.1097 (Nov. 21 high). That would invalidate the bearish lower highs setup and confirm a double bottom breakout, opening the doors to 1.2 (target as per the measured move method).
On the downside, the Nov. 29 low of 1.0981 is the level to beat for sellers. At press time, the pair is trading at 1.1075, representing little change on the day.
|Today last price||1.1077|
|Today Daily Change||-0.0008|
|Today Daily Change %||-0.07|
|Today daily open||1.1085|
|Previous Daily High||1.1091|
|Previous Daily Low||1.1002|
|Previous Weekly High||1.1034|
|Previous Weekly Low||1.0981|
|Previous Monthly High||1.1176|
|Previous Monthly Low||1.0981|
|Daily Fibonacci 38.2%||1.1057|
|Daily Fibonacci 61.8%||1.1036|
|Daily Pivot Point S1||1.1028|
|Daily Pivot Point S2||1.0971|
|Daily Pivot Point S3||1.0939|
|Daily Pivot Point R1||1.1117|
|Daily Pivot Point R2||1.1148|
|Daily Pivot Point R3||1.1205|
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