Sasha Singh
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

EURUSD : Trading Within a Narrow Zone

(EURUSD:4 hour chart)

EURUSD still seems to be trading within a narrow sideways zone bounded by support and resistance levels. However the upside seems limited and it might come down breaking the key support at 1.3694. Looking at the averages we can see that the 50 day SMA is moving far below the 100 day or 200 day SMA. And 100 day SMA is also moving towards the 200 day SMA to move below it. The 1.3695 seems to be a key support on the chart. 

(EURUSD: Daily Chart)

On the daily chart, 50 day SMA is moving towards the 100 day SMA to cross below it signalling the downtrend.