EUR/USD’s EMAs Cross Bearishly on H4 Timeframe

Russell Shor, CFTe, MFTA FXCM

The below is the H4 chart of the EURUSD. The green 5-period EMA briefly crossed above the orange 10-period EMA (green ellipse). However, immediately thereafter the EMAs bearishly crossed and the RSI reacted bearishly off of the 50 level (blue rectangle). The EMAs are developing angle and separation and if sustained are likely to lead price lower. As such we continue to monitor.

Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0

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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