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EURUSD capped by 40-day SMA; bearish cross may restart descent
EURUSD found some difficulty in pushing below the 1.0990 support, returning the price back above the 1.1005 level, which is the 23.6% Fibonacci retracement of the down leg from 1.1411 to 1.0878. The picture seems negative overall, given the downward slopes in the 200-day simple moving average (SMA), as well as the 100-day one and 20-day mid-Bollinger band. That said, negative directional momentum seems to have stalled, something reflected by the flat 40-day SMA and the short-term oscillators. The MACD, although below its red trigger line and in the negative zone, has flattened, while the RSI – also located in the ... (full story)