📉 Euro Bearish vs U.S. Dollar

13 Apr

The Euro is set to move lower against the U.S. Dollar (EURUSD).

Let's start with the weekly timeframe:
(All the moving averages are active)

➖ This week, we have the strongest bearish session since September 2022.
➖ This strong bearish session is happening as a rejection at EMA100, EMA10, EMA50 and EMA21. All major moving averages. These are specially strong/relevant/important since we are looking at the weekly timeframe.
➖ Lower highs have been happening since July 2023. The pair has been bearish for a while now.
➖ Early to mid-2023 bullish action was part of a relief rally only, no impulse nor bullish phase but instead a brief period of recovery before the resumption of the bearish move.

👉 Since we have a long-term lower high in July 2023 compared to mid-2021, we can expect a lower low on the next move. Lower highs lead to lower lows.

The daily chart and shorter timeframes won't be needed.

Feel free to leave a message if you have any questions, something to say or anything to share.

You can always share everything that comes to your mind in these trade ideas, we are here for you... Thanks a lot for your continued support.

You are truly appreciated and, as a human being, you deserve the best!

Namaste.