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EUR/USD Bulls are losing momentum

By : Mex Group

EUR/USD Bulls are losing momentum

14 September 2016, 01:02

EUR/USD sellers stood their ground and buyers retreated in recent sessions as MACD (26, 12, 9) has fallen off below its median line.

On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions.

The fact that the MACD hasn't been under zero for at least one week of trading, reinforces the argument that room for further EUR/USD depreciation is there.

EUR/USD 0001-01-01T00:00:00
0/0 (0%)
H0 L0

S3S2S1R1R2R3
1.1202233632405 1.1210366884867 1.1219733556111 1.1237233479817 1.1245366732279 1.1254733403523

Trend IndexOB/OS Index
Bullish Neutral