EUR/USD’s weekly MACD has turned bearish for the first since May. Key SMAs have rolled over in favor of the bears. EUR/USD could extend last week’s 1.77% decline, as crucial weekly chart indicators are now reporting bearish conditions. The MACD histogram, which gauges trend strength and trend changes, has crossed below zero, indicating a bullish-to-bearish trend change. The index has turned negative for the first time since May. Further, the 5- and 10-week simple moving averages (SMAs) have produced a bearish crossover for the first time since January. As such, the pair is likely to test the former resistance-turned-support of 1.1495 (March high). The pair is currently trading at 1.1632, having declined from 1.1872 to 1.1612 last week. A close above last week’s high of 1.1872 is needed to invalidate the bearish bias. Weekly chart Trend: Bearish 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 Implied volatility in emerging market currencies and their G7 peers is widest since June – Bloomberg FX Street 2 years EUR/USD's weekly MACD has turned bearish for the first since May. Key SMAs have rolled over in favor of the bears. EUR/USD could extend last week's 1.77% decline, as crucial weekly chart indicators are now reporting bearish conditions. The MACD histogram, which gauges trend strength and trend changes, has crossed below zero, indicating a bullish-to-bearish trend change. The index has turned negative for the first time since May. Further, the 5- and 10-week simple moving averages (SMAs) have produced a bearish crossover for the first time since January. As such, the pair is likely to test the former resistance-turned-support of… 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.
