- Euro/US dollar slides 0.22 % to 1.0450 on Friday, which reflects after a 100 -day SMA test.
- The relative strength index decreases sharply to 55 years, indicating the weakening of the bullish momentum near the center point.
- The MACD chart prints low green bars, indicating that the purchase of pressure is faded and the possibility of more from the negative side.
The EUR/USD pair faced a setback on Friday, as it decreased by 0.44 % for stability near 1.0450 after facing the company’s resistance on a simple moving average for 100 days (SMA) around 1.0540. This rejection represents a decisive turning point for the husband, indicating that the upscale momentum began to fade after the last run. Without a decisive break above this main level, the bulls seem to lose their grip on the market.
Technical indicators enhance weak expectations. The RSI index decreased sharply to 55, which approached the 50 neutral point, which may indicate a shift in the feeling if breached. At the same time, a graph showing the contrast of moving average rapprochement (MACD) shows flat green bars with declining tilt, reflecting the shrinkage of the purchase pressure and an increased risk of a declining reflection.
If EUR/USD fails to restore SMA for 100 days in the short term, the last upward step can be considered a temporary correction rather than a structural shift. The husband may either back either or become connected between the 100 -day SMA resistance and SMA for 20 days, which can work as preliminary support around the 1.0415 region. A sustainable break under SMA for 20 days would increase the consolidation of hippocampus.
The euro graph/daily dollar
