Forex traders are always looking for trading opportunities that can maximize their profits. One of the most popular trading strategies is the golden cross, which is a bullish signal indicating that the market is about to experience a strong uptrend. The golden cross occurs when the 50-day moving average crosses above the 200-day moving average. In this article, we will discuss which forex pairs are close to the golden cross in 2017.
EUR/USD
The EUR/USD is the most popular forex pair in the world, and it is currently close to the golden cross. The 50-day moving average is currently trading above the 200-day moving average, indicating a potential bullish trend. The EUR/USD has been trading in a range for the past few months, and a golden cross could signal a breakout to the upside.
GBP/USD
The GBP/USD is another forex pair that is close to the golden cross. The 50-day moving average is currently trading just below the 200-day moving average, indicating a potential bullish trend. The GBP/USD has been trading in a range for the past few months, and a golden cross could signal a breakout to the upside.
USD/JPY
The USD/JPY is a forex pair that has been in a downtrend for the past few months, but it is currently close to the golden cross. The 50-day moving average is currently trading just below the 200-day moving average, indicating a potential bullish trend. The USD/JPY has been trading in a range for the past few months, and a golden cross could signal a breakout to the upside.
USD/CHF
The USD/CHF is a forex pair that has been in a downtrend for the past few months, but it is currently close to the golden cross. The 50-day moving average is currently trading just below the 200-day moving average, indicating a potential bullish trend. The USD/CHF has been trading in a range for the past few months, and a golden cross could signal a breakout to the upside.
AUD/USD
The AUD/USD is a forex pair that has been in a range for the past few months, but it is currently close to the golden cross. The 50-day moving average is currently trading just above the 200-day moving average, indicating a potential bullish trend. The AUD/USD has been trading in a range for the past few months, and a golden cross could signal a breakout to the upside.
Conclusion
The golden cross is a powerful trading signal that can help forex traders identify potential bullish trends. In 2017, several forex pairs are close to the golden cross, including the EUR/USD, GBP/USD, USD/JPY, USD/CHF, and AUD/USD. Traders should keep an eye on these pairs and look for confirmation of a potential uptrend before taking a position. As always, traders should use proper risk management techniques to protect their capital.
