Technical Analysis – EURUSD rally pushes it above 100-day MA but outlook is neutral
Posted on July 27, 2015 at 12:27 pm GMTEURUSD rallied over 100 pips from 1.0968 to 1.1113 today before retreating to around 1.1065. With RSI crossing above 50 and the stochastics still positively aligned, the intra-day bias is bullish. But with prices having found resistance at the 50-day moving average at today’s intra-day high of 1.1113, EURUSD may struggle to rise above the Ichimoku cloud. Failure to break above the cloud means the pair is likely to continue consolidating in the medium term. Other indicators are looking mixed [..]