Here is the update analysis for Euro against Dollar.
EUR/USD continues in bearish trend as the EUR is being pushed into a dovish price action due to Brexit sentiment, possibility of an economic slowdown, and USD’s positive price action, placing the EUR/USD pair below the 1.1300 handle.
The EUR/USD pair dropped by 0.27% and currently trades at 1.13003.
There are three key factors for the drop. First, you can see during the previous trade hours, there was a cross moving average between MA20 and MA50 that could be a basis of the pullbacks. Second, there is a presence of trend reversal which moves cross above the MA100. And third, there is a Bearish Engulfing indicating a strong sell.
The StochRSI is still moving below the 30 mark, offering a short rebound.
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Cheers,
EUR/USD continues in bearish trend as the EUR is being pushed into a dovish price action due to Brexit sentiment, possibility of an economic slowdown, and USD’s positive price action, placing the EUR/USD pair below the 1.1300 handle.
The EUR/USD pair dropped by 0.27% and currently trades at 1.13003.
There are three key factors for the drop. First, you can see during the previous trade hours, there was a cross moving average between MA20 and MA50 that could be a basis of the pullbacks. Second, there is a presence of trend reversal which moves cross above the MA100. And third, there is a Bearish Engulfing indicating a strong sell.
The StochRSI is still moving below the 30 mark, offering a short rebound.
hit like and follow
Cheers,
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.