EUR/USD, Monthly MA200 turnover point!

eur-usd monthly

Take a look at pure and clean EUR/USD Monthy chart. What do you see? MA200 stoped the decline for the third time. I mentioned this level in my previous analysis as a possible bottom for this pair and 1.2240/50 as a possible turnover point and that’s exactly what happened. EUR/USD rebounded at 1.2500 for now, but could this be a long term turnover for the pair? There is so many fundamental and technical factors which will be important in the next period for the main traded currency pair and I am sure that, there will be so many turnovers in smaller time frames, but keep this Monthly chart in mind and watch this from time to time.

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