EUR/USD is reversing lower from the 5-day MA hurdle. The pair remains on track to test the recent low of 1.0989. EUR/USD is currently trading at 1.1017, representing marginal losses on the day, having faced rejection at the descending (bearish) 5-day moving average at 1.1025 an hour ago. The pair now risks falling below the Nov. 25 low of 1.1004 and test 1.0989, as suggested by the bearish lower high of 1.1097 established on Nov. 21. Technical indicators are also indicating the path of least resistance is to the downside. The 14-day relative strength index is reporting bearish conditions with a below-50 print and the daily MACD histogram is again printing deeper bars below the zero line, a sign of strengthening bearish momentum. The outlook would turn bullish if and when the pair rises above 1.1097, invalidating the lower highs setup. The bearish case looks stronger if we take into account the previous week’s bearish hammer and the weekly MACD’s shallow bars above the zero line. Daily 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 Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin – Asian Wrap 27 Nov FX Street 3 years EUR/USD is reversing lower from the 5-day MA hurdle. The pair remains on track to test the recent low of 1.0989. EUR/USD is currently trading at 1.1017, representing marginal losses on the day, having faced rejection at the descending (bearish) 5-day moving average at 1.1025 an hour ago. The pair now risks falling below the Nov. 25 low of 1.1004 and test 1.0989, as suggested by the bearish lower high of 1.1097 established on Nov. 21. Technical indicators are also indicating the path of least resistance is to the downside. The 14-day relative strength index is reporting bearish… 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.
