Russell 2000 EMAs Move Into Bearish Formation On Weekly Timeframe


The below is the weekly chart of the US2000. The orange 13-week EMA is looking to cross below the black 34-week EMA (blue ellipse). This will put the EMAs into a bearish stack. I.e. the green 5-week EMA will be below the orange 13-week EMA, and the orange 13-week EMA will be below the black 34-week EMA. The RSI(9) is already below 50 and indicative of an underlying bearish momentum. However, if the EMAs develop angle and separation it will be regarded as a bearish development. We continue to monitor.

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

US100

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD rises toward 1.0950 amid intense USD selling

EUR/USD rises toward 1.0950 amid intense USD selling

EUR/USD is rising toward 1.0950 in Wednesday's European trading. The US Dollar resumes the downside amid heightened September Fed rate cut bets, supporting the pair. The focus remains on the mid-tier US data and Fedspeak 

EUR/USD News

GBP/USD scales fresh 2024 highs above 1.3000 after UK CPI data

GBP/USD scales fresh 2024 highs above 1.3000 after UK CPI data

GBP/USD trades above 1.3000, refreshing 2024 highs in the European session on Wednesday. The data from the UK showed that annual CPI inflation held steady at 2% in June. This reading alongside a broad US Dollar sell-off underpins the pair. 

GBP/USD News

USD/JPY tumbles to 156.00 amid risk-aversion, technical breakdown

USD/JPY tumbles to 156.00 amid risk-aversion, technical breakdown

USD/JPY is off the lows but under heavy selling pressure on the 156.00 level in European trading on Wednesday. Souring risk sentiment and a technical breakdown has fuelled the USD/JPY meltdown, as Japanese intervention risks loom. 

USD/JPY News

Gold rises on Kugler’s comments and Shanghai bets

Gold rises on Kugler’s comments and Shanghai bets

Gold is rising as expectations firm of falling interest rates in the US – a positive for the precious metal. Fed’s Adriana Kugler says a combination of falling inflation and weakening labor market could force rate cut “later this year”.

Gold News

Bitcoin surpasses $65,000 mark

Bitcoin surpasses $65,000 mark

Bitcoin closes above the daily resistance level of $64,900, with Ethereum and Ripple subsequently breaking through their resistance levels, indicating an emerging bullish trend.

Read more

Majors

Cryptocurrencies

Signatures