EURUSD maintains positive bias in ascending channel

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD has retraced about 75% of the downtrend from the August 2015 high of 1.1713 to the December 2015 low of 1.0521 after crossing above the 1.14 handle on Thursday. The pair has been setting higher highs and higher lows since the December trough to move in an ascending channel. The 50-day moving average recently crossed above the 200-day moving average in what is a bullish signal but the flatlining 200-day moving average puts into question the strength of the bullish cross. Both the RSI and

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