EUR/USD - Bullish

FX:EURUSD   Euro / U.S. Dollar
May closed with strong bullish momentum and this pair still has more room to the upside.

Last week we saw a bearish weekly close however our MAs are still upward facing - this is the result of a deep pullbacl highlighted in the lower time frames.

Clear higher lows and higher highs on the daily TF. Our MAs are also upward facing, in alignment with the weekly TF. We have also produced a new higher high and a higher low, indicating more upward momentum.

Higher highs and higher lows in the H4 TF, last week we had a deep pullback to the 61.8% level where price rejected and formed a bearish engulfing candlestick . This rejection also completes the formation of a higher low. We have also broken our CTL and have an MA crossover to the upside on the H1. The last 3 candles also form a morning star , great indication of upside movement.


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