Is The Euro Making A Recovery?

• 25 May 2018

EUR/CHF

The EUR/CHF pair has broken the 2- standard deviation lower Bollinger band and appears to be reversing to break this level to the upside. At the same time, RSI is undergoing a momentum reversal and is approaching the 30 support level.

EUR/AUD

A series of doji candles for the EUR/AUD pair could indicate a potential reversal of the current bearish move. Although there is still buying pressure, the pair is reaching a support area at the 1.542 price level. MACD appears to be undergoing a momentum reversal and RSI has flattened in oversold conditions.

EUR/NZD

The EUR/NZD pair also indicates that fortunes may be turning for the Euro. An inverted hammer candlestick in yesterday’s trading may be the first signal of a trend change. There is a support level at the 1.684 price line and price action may be pushed to this level as momentum is currently with sellers, despite the fact it is clear the bearish momentum is decelerating.

EUR/JPY

The EUR/JPY pair has broken the lower Bollinger band on three consecutive occasions and RSI has flattened in oversold conditions. However, there still appears to be a bearish bias with volume rising into the bearish move and MACD extending into negative territory.