Richard Perry
Independent Analyst
The daily chart shows a bearish drift has returned to the euro. The price now seems to be tracking the falling 21 day moving average and sliding along the support of the old downtrend. Momentum indicators have certainly rolled over now with RSI and Stochastics falling away and there is a feeling that the bulls have lost the control. When you look at the intraday hourly chart you also get a sense that the bears are on the brink of regaining control once more.
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