Baxia Markets
September 15, 2021

EURUSD Approaching New Uptrend?

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The upward trend on EURUSD has lasted for thirteen days since Aug 20th, which was also a big support point. As we can see, this support point on Aug 20th was solid. 



Recently, the price line has been down to the 50% Fibonacci level, which is not ideal, and not strong enough to turn the price but still a pressure point marked with an orange circle. So, the price bounced back a little and is hovering around 1.181. Is the orange circle a support point?




The parabolic SAR went flat a little but was still in an upward trend. Standard deviation remains in a low area, which means the price moves in a low fluctuation recently. However, it does mean that the price will remain at this level. MACD just made a bullish cross, so we still have something to expect.



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