On the
daily chart of the EUR/USD we can see that since the 55 period exponential
moving average crossed below the 200 period exponential moving average, the
pair has kept a very sustainable downtrend, supported by the fundamentals from
each region. The 55 EMA, purple line, has acted as a very good resistance
lately. The distance or separation between the 55 EMA and the 200 EMA is
relatively wide and it looks like it will separate even more.
However,
the rate at which the pair has been falling is getting smaller and a breakout
of the 55 EMA is possible. If that is the case, then the price may try to
correct all the way to the 200 EMA.
I fully agree with your analysis.
ReplyDeleteGood point! I'll keep an eye on it.
ReplyDeleteThe bearish trend continues.
ReplyDeleteGood analysis on this pair.
ReplyDeleteWell done analysis.
ReplyDeleteVery good point, now I want to be watching developments.
ReplyDeleteThanks a bunch.
ReplyDelete