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.
|1.1202233632405 ||1.1210366884867 ||1.1219733556111 ||1.1237233479817 ||1.1245366732279 ||1.1254733403523 |
|Trend Index||OB/OS Index|
| Bullish || Neutral |