- EUR/USD extends its decrease, and reaches its lowest level in two weeks.
- The relative strength index continues to weak in negative lands, which reflects the intense declining momentum.
The EUR/USD pair suffered from a sharp drop on Thursday, as it drowned to its lowest level within two weeks, as the sellers took control of after another simple moving average for 100 days (SMA). This represents the third consecutive rejection at this level of resistance, which enhances its importance as a large obstacle to the bulls. The last decrease also witnessed that the husband was falling more than 0.70 % of the last levels, which led to additional pressure on his short term.
From an artistic point of view, indicators tend to Haboumia. The RSI (RSI) index continues to decrease within negative lands, which reflects the increasing passive momentum. Meanwhile, a graph showing the contrast of moving medium rapprochement (MACD) shows the reduction of green tapes, highlighting the gradual erosion of bullish pressure.
Currently, the husband lost his grip on SMA for 20 days, which increased the risk of deeper losses. On the contrary, a recovery from this area can open the door to another attempt to restore SMA for 100 days at about 1.0520.
The euro graph/daily dollar
