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EURUSD extends pullback below 50-day SMA

From xm.com

{video}EURUSD has been on a steep uptrend after finding its feet at the 20-year low of 0.9535, storming to a fresh 10-month high in early February. However, the pair experienced a moderate downside correction, with the price diving below its 50-day simple moving average (SMA) in the last couple of daily sessions. The momentum indicators currently suggest that bearish forces have gained the upper hand. Specifically, the RSI has flatlined beneath its 50-neutral mark, while the MACD histogram is weakening further below both zero and its red signal line. Should selling pressures persist, the pair could test its recent ... (full story)

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  • Category: Technical Analysis