EURUSD: First 1D Golden Cross since May 2017. Trend shift?

EURO / U.S. DOLLAR FX_IDC:EURUSD

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EURUSD has formed the first Golden Cross (1D MA50 crossing above the 1D MA200) since May 2017. With the 1D chart neutral ( RSI = 53.756, MACD = 0.005, ADX = 23.279), the current technical candle framework appears to be similar to that of the last Golden Cross.

Right now EURUSD is still within its 2 year bearish trend (Channel Down pattern) but if this Resistance breaks, we may have a shift of the long-term trend to bullish (as it happened on June 27th 2017).

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