EUR/USD EMAs Move Into Bearish Stack

Russell Shor, CFTe, MFTA FXCM

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.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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