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EURUSD reflects weakening bearish bias; eyes on 20-SMA
video EURUSD kicked off the week with soft performance and barely above last week’s low of 1.1751, maintaining a downward direction below the 20-day simple moving average (SMA). While the gentle upward trajectory in the RSI and the MACD, which coincides with a weakening price action, reminds of a bullish divergence, and hence raises some optimism that an upside reversal could soon take place, some caution is still required as the former continues to trade below its 50 neutral mark and the latter has yet to grow in the positive area. The negative slope in the red Tenkan-sen line is another discouraging signal. A ... (full story)