Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
At the same time the candle rejects to break above the sma 8 (i don’t show the smas to keep it cleaner) 3….
As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern.
Or to simplify this another way, note that out of the past 14 days eur/usd’s price has gone up 8 them.
This time price is at my long term trendline. if it does respects it, we could be going all the way south.
This imputes a buy/sell ratio of 0.3, which is bearish.
As for the rationale, technical traders seem to be citing the appearance of double top and triangle technical patterns.
This imputes a buy/sell ratio of 0.2, which is quite bearish.
This imputes a buy/sell ratio of 1.44, which is bullish.