Please complete a technical analysis for the currency of your choise. In your analysis, please include...

Please complete a technical analysis for the currency of your choise. In your analysis, please include the following tools: MACD (chart and what does it mean) RSI (chart and what does it mean) 50 and 200 days moving averages (chart and what do they mean)

Expert Solution

The currency pair is EUR/USD

The daily chart for the past 1 year is shown below :

The chart with RSI is shown below :

The chart with MACD is shown below :

The chart with Moving averages is shown below :

From the technical charts, it can be seen that :

The RSI is around mid-range at a value of 44.15
The MACD lines are intersecting at the current date
The 50-day moving average line is below the 200-day moving average line

From these indicators, it means that :

The EUR/USD currency pair is neither overbought nor oversold as per the RSI indicator (this is because the RSI is not above 80 or below 20)
The EUR/USD currency pair is bearish for the medium term because the blue MACD line is below the orange line
The EUR/USD currency pair is bearish for the medium term because the 50-day moving average line is below the 200-day moving average line

Overall, it can be concluded with technical analysis that the EUR/USD currency rate can be expected to decline over the short to medium based on the above technical indicators

jeff jeffy answered 1 year ago

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