Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
This imputes a buy/sell ratio of 1.67, which is bullish.
This imputes a buy/sell ratio of 6, which is very bullish.
Or to simplify this another way, note that out of the past 30 days eur/usd’s price has gone up 18 them.
🔸 It has bounced at the upper trendline of the daily ascending channel..
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
This imputes a buy/sell ratio of 0.62, which is bearish.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
For additional context, note that price has gone up 8 out of the past 14 days.
Volatility for zar/jpy has been contracting over the past two weeks relative to volatility over the past month.