EURUSD: Death Cross on 1H. Sell opportunity.

FX:EURUSD   Euro / U.S. Dollar
Our last 1.10550 Target has been hit after the Higher Low trend line broke. As mentioned on the chart below, the indicators where there for the sell as the 4H RSI was on a bearish divergence:

What we are focusing on now is the Death Cross (MA50 below the MA200) that was formed on the 1H chart. The Channel Down is clear ( RSI = 38.625, MACD = -0.002, ADX = 25.821) and as long as the 1H MA200 (orange line) is intact and holds as the new Resistance, the price is aiming for a new Lower Low within the 1.0980 - 1.0950 zone.

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Medium term this is going much lower due to what is going to happen to the Italian economy & the consequent collapse of the Euro
good works
I kinda like that. It will certainly help the XAUEUR to get going.
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