14 Jul 2017
EUR/GBP issued a Golden Cross
EUR/GBP is undergoing a Golden Cross on daily charts, traditionally considered a bullish omen.
The EUR/GBP's 50-day MA crossed above its 200-day trend. Previous instances tell us that this event becomes extremely rare if the pair has witnessed a meaningful correction before or during the crossover. This bounce allows trend-following EUR/GBP traders to adhere to the trend at fair valued prices following an otherwise very risky signal.
The EUR/GBP's 50-day MA crossed above its 200-day trend. Previous instances tell us that this event becomes extremely rare if the pair has witnessed a meaningful correction before or during the crossover. This bounce allows trend-following EUR/GBP traders to adhere to the trend at fair valued prices following an otherwise very risky signal.