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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