EUR/USD MONTH END

LAST WEEK OF THE MONTH OF APRIL

BY
EDWARD M. HAMMAN
WADAFOX TRENDING
27 APRIL 2020
11:45

• REVIEW THE PAST 2 WEEKS
• THE BULLS SEEM TO REGAIN STRENGTH 
• THE DOUBLE BOTTOM

So we are at the beginning of a new week, and at the end of the month. this is an important time as a lot of traders and companies are deciding what to do with what the economy tells us. Everyone always waits to see the economic figures before deciding what their next move is.

Well in my opinion, the past 2 weeks have shown strong for the bears, where they pushed down further but they were not as strong as the last bullish week. the figure above shows that the last consecutive lows were in the oversold area. So the bulls are starting to come in. 

EUR VS USD

The above figure shows the strength of the EUR/USD

The figure says it all, both the euro and dollar is in a downward move, but the dollar remains in control, which will not allow the euro to make a higher high as of yet. As soon as the do a crossover, then we can shine more light on the euro.

Double bottom 

Now this is what I like to see. The above figure shows a double bottom that just formed towards the end of last week. We all know a double bottom (possibly a triple bottom) is a good bullish signal.

It just depends on how the economic news will reflect on traders and trading companies.

I will be posting new and updated blogs as the time passes by during the day and the rest of the week. 

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Cincerely yours
Edward M. Hamman
Wadafox Trending Team