The Euro has been in a decade long descending triangle. In March 2015 price touched the supporting trendline at 1.0450 and struggled to move away in the next 2 years before moving up steadily to test the resistance trendline at 1.2550. Price moved sideways for a number of weeks, before moving down in the recent week to test the 50 MAV and Monthly Pivot .
Momentum is waning in stochastics, macd and volume.
If the Euro holds here , then there is a chance it may retest the resistance trendline for a potential break.
Momentum suggests price will fall to test the 200W MAV at 1.1450.
Momentum is waning in stochastics, macd and volume.
If the Euro holds here , then there is a chance it may retest the resistance trendline for a potential break.
Momentum suggests price will fall to test the 200W MAV at 1.1450.