Are you looking to capitalize on the recent movement of the euro against the dollar? The euro has been showing strong signs of upward momentum, surpassing $1.09 recently. This could potentially signal a new uptrend, but caution is advised as the price is currently overbought based on the slow stochastic.
At Extreme Investor Network, we believe in providing actionable insights for our readers to make informed decisions in the stock market and trading arena. While the death cross of the 50 SMA below the 200 might be a concern, the fundamental situation and recent candlesticks suggest that the uptrend could continue.
As experts in the field of trading and investing, we recommend waiting for a higher low for confirmation of the uptrend and to reduce associated risks. Key resistance levels at $1.10 and support levels at $1.075 should be closely monitored, with potential retracements presenting buying opportunities.
Stay informed with the latest economic indicators and market releases, such as the upcoming German GDP report on Friday, 24 May. Our team of analysts at Extreme Investor Network is dedicated to providing unique insights and analysis to help you navigate the complexities of the stock market.
For more personalized advice and expert opinions, subscribe to Extreme Investor Network and take your trading to the next level. Let us guide you towards financial success in the world of stocks and trading.