Technical Analysis

Euro FX futures (6E) stall as resistance band forms

Updated on: Author: JayComments Off on Euro FX futures (6E) stall as resistance band forms 1569 Views
  • MACD shows a weakening in the buying pressure
  • Price has begun to consolidate as the gaussian channel provides a support zone.

Technical analysis

MACD: The MACD is in the red on the daily chart showing some divergence. The buying pressure is weakening and is being translated for us easily in the MACD histogram.

Price: The Euro has begun to for a rolling over pattern as it struggles to break above 1.106. We can see from the chart that there are no clear higher highs and higher lows. Instead, there is just a consolidation phase that is beginning to form.

6E Daily chart showing MACD on the daily chart and a consolidation phase forming.
6E Daily Chart

Gaussian Channel: The Gaussian channel is now firmly green, and any price movement within the zone could be looked at as buying opportunities.

6E Daily Chart showing gaussian channel
6E Daily Chart

Related Articles
Technical Analysis

Will Gold Breach ATH Again?

Posted on

Introduction Gold futures have continued their steady run upwards, boasting an impressive 31% return over the past year. The question is whether we see this trend continuing. Technical Analysis The daily chart shows us the 50-moving average positioned well above the 100-moving average. There is also a flag formation where gold sat sideways since the Read More…
Market Overview Technical Analysis Trading Tips

Dow Jones Futures (YM) Now Only 6% From All-Time Highs

Posted on

The Dow Jones continues to diverge from the rest of the market Bearish divergence has been spotted on the daily chart Bull and Bear targets YM Continues To Rally The Dow continues to diverge from the rest of the market as it is now only 6% away from all-time highs. YM is up 10% in Read More…
Technical Analysis

Bullish price action in Dollar (DXY)

Posted on

Weekly Chart We observe a clear support zone around the 102.00 level, which price is currently testing. If we see a strong bullish response at this zone, we could anticipate a rally towards the upper resistance near 114.90. However, a break below this support could lead us to look for further downside targets near the Read More…