EURUSD Weekly MACD Positively Crossing

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The EURUSD edged lower yesterday continuing an increasingly tight range as seen by its ascending triangle (in the 4hr chart). The EURUSD remains poised to push higher the balance of this week on the continued vulnerability of the US Dollar to a deeper correction. Significantly, the EURUSD is firming just above the daily chart downchannel resistance, and bumping up against horizontal resistance (on the weekly chart). The weekly and daily RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am flat after profitably closing longs yesterday and am looking to re-enter long in the green zone (of the daily chart), targeting the red zone for Friday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).

EURUSD Weekly/Daily/4hr

EURUSD Technical Analysis

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