EURUSD- Medium/Long Term Short
If policies continue to diverge, there will be strong fundamentals in place to justify a stronger dollar relative to the euro.
From a technical standpoint, the long term support line appears to be broken.
The 20v 50 day cross-over suggest momentum will be downward sloping.
Bearish MACD cross-over is not a good sign.
RSI may be over-sold but the down-trend looks pretty clear.
It is certainly possible that EUR/USD will rally in the near-term, but I think the break of the long-term support and the firmly entrenched down channel will prevail. If we go below Below 1.00 & 1.05, the all time lows will be exposed.
From a technical standpoint, the long term support line appears to be broken.
The 20v 50 day cross-over suggest momentum will be downward sloping.
Bearish MACD cross-over is not a good sign.
RSI may be over-sold but the down-trend looks pretty clear.
It is certainly possible that EUR/USD will rally in the near-term, but I think the break of the long-term support and the firmly entrenched down channel will prevail. If we go below Below 1.00 & 1.05, the all time lows will be exposed.
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