Death Cross? flavour of the year is likely to be tested
Hello all, welcome to my new analysis about EURUSD pair. looking at the weekly chart, there are several factors that makes me believe that EU will have 1 more leg down toward the 1.08 region in the next few weeks.
Look at the analysis below :
- first, a series of lower high and lower low since february 2018
- second, death cross on EMA 55 and MA 200 is very possible in the weekly chart
- third, MACD histogram ticks down on weekly chart.
Please remember that the price is trending slightly below the golden pocket zone and my analysis will be invalidate if the price can break out of white resistance trend line.
Thank you
Look at the analysis below :
- first, a series of lower high and lower low since february 2018
- second, death cross on EMA 55 and MA 200 is very possible in the weekly chart
- third, MACD histogram ticks down on weekly chart.
Please remember that the price is trending slightly below the golden pocket zone and my analysis will be invalidate if the price can break out of white resistance trend line.
Thank you