EURUSD Golden Cross technical alert

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June 29, 2020 2:28 PM
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An important moving average crossover could be signaling a major reversal in the EUR/USD.


Using the "technical Insight" research tool under the Market Analysis tab, we have identified a Bullish technical event in the EUR/USD. 

Double Moving Average Crossover (50-day 200-day Golden Cross)



Source: GAIN Capital, Technical Insight

Moving averages (MA) are used to smooth out the volatility or "noise" in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less "jerky" than plotting the actual prices. In the double crossover method, a bullish event is generated when a faster moving average crosses above a slower moving average (21-bar MA crosses 50-bar, or 50-bar MA crosses 200-bar). In this state, the price may be starting a new uptrend. The opposite is true when the faster slips below the slower moving average, triggering a bearish event.

The EUR/USD is our currency pair of the week

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Related tags: EUR Forex Forex USD

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