EURUSD Emerging 1D Golden Cross but price can pull-back first

The EURUSD pair is close to forming a Golden Cross on the 1D time-frame which is the pattern where the 1D MA50 (blue trend-line) crosses above the 1D MA200 (orange trend-line). That is technically bullish but it doesn't mean that the price can't pull-back especially following the very aggressive rally it has been on since late September.

In fact, the last two 1D Golden Crosses had the price pull-back on overbought 1D RSI. Though the 1D MA50 wasn't hit before the rally was well underway above the 1.5 Fibonacci, the price did test either the 1D MA200 or the 4H MA50 (thin grey trend-line) prior to the Golden Cross.

Again, this doesn't change the long-term trend which has turned bullish, but the pull-back will represent a much needed technical retrace (also based on profit taking) to its fair buy level.


-------------------------------------------------------------------------------

** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇