Baxia Markets
July 22, 2021

Time for EURUSD to spike

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The price of EURUSD has been riding a rollercoaster since the beginning of the year. The price has made two peaks till now. The first one was on January 7th, and the second one was on May 25th. Both of them met strong resistance power and went down sharply. The first bottom was at the end of March. Recently, the price seems to be at the second bottom. 



If we see the big picture of the price line, it seems to move periodically; each trend could last 40 to 50 days. Recently, the downward trend got weak. The range of fluctuations shrunk, movements went limited. The downward power is getting weak for sure. 




The parabolic SAR dots clustered, which means the standard deviation went low too, a breakout signal. Ichimoku started to go down. The stochastics and RSI are both at a low level; however, they are heading up now.


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