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0 The Euro/Dollar exchange rate has declined onto an important technical area, a support exchange rate area that with good timing took place exactly between Q3/Q4 2020, however with a technical caveat, back in the days, the EUR/USD trendline had the Senkou A/B nuage support, meanwhile instead the intraday observation of the EUR/USD 1.1620 clearly sees the exchange rate trendline well below the IKH Senkou A/B nuage, a consistent bear trend signal. However, the EUR/USD exchange rate seems in oversold conditions given a short term buy signal generated by the lower edge of the bollinger band, while also the RSI oscillator starts to reverse off oversold conditions where the MACD could also become a buy signal on divergence. From a chart technical standpoint, the EUR/USD 1.1620 exchange rate has naturally +1.55% drift higher toward EUR/USD 1.18 that would match on the chart the Senkou A/B nuage resistance, if verified from there forex market flows and positionings would generate outcome scenario, considering the probability of a similar double bottom pattern verified in Q3/Q4.
EUR/USD FUTURES CONTRACT
EUR/USD OPTIONS LIST
EUR/USD PUT/CALL RATIO 0.83 SIGNALS A MODERATE BUY SKEWNESS
