EUR/USD EMAs Move Into Bearish Stack
The below is the daily chart of the EURUSD. The EMAs are in a bearish stack. I.e. the green 5-day EMA is below the orange 13-day EMA, and the orange 13-day EMA is below the black 34-day EMA. The RSI(9) is below 50 and is on the bearish side of the oscillator (blue rectangle). We are assessing if the EMAs develop angle and separation (red rectangle). If they do, this may be suggestive that the downwards momentum is accelerating. We continue to monitor.
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