EUR/USD’s daily chart shows a golden crossover, a long-term bull market indicator. The bull cross has so far failed to invite buying pressure. Other indicators favor deeper declines toward support at 1.1168. EUR/USD is looking to extend its two-day losing streak despite the confirmation of a golden crossover, a bullish crossover of the 50- and 200-day simple moving averages (SMAs). A golden cross is widely considered an indicator of the long-term bull market. So far, however, the bull cross has failed to put a bid under EUR/USD. The pair is currently trading at 1.1215, representing marginal losses on the day, having put in a high of 1.1224 during the overnight trade. The pair fell 0.29% on Thursday, confirming a reversal lower signaled by Wednesday’s bearish inside day candlestick pattern. The daily chart MACD histogram is producing deeper bears below the zero line, a sign of the strengthening of the downward momentum. Notably, the indicator is reporting the strongest bearish conditions in three months. The pair risks falling to support at 1.1168 (June 19 low). A close below that will likely invite stronger selling pressure, yielding a drop to 1.1032 (200-day SMA). Alternatively, a close above 13.1349 (June 23) is needed to confirm a bullish reversal. Daily chart Trend: Bullish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500: Futures struggle for clear direction below 3,070 FX Street 2 years EUR/USD's daily chart shows a golden crossover, a long-term bull market indicator. The bull cross has so far failed to invite buying pressure. Other indicators favor deeper declines toward support at 1.1168. EUR/USD is looking to extend its two-day losing streak despite the confirmation of a golden crossover, a bullish crossover of the 50- and 200-day simple moving averages (SMAs). A golden cross is widely considered an indicator of the long-term bull market. So far, however, the bull cross has failed to put a bid under EUR/USD. The pair is currently trading at 1.1215, representing marginal losses on the day,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
