FXCM's EMBASKET Showing Signs of Weakness on H1
The left chart show's FXCM's emerging markets currency index, EMBASKET is black below its 50-day SMA. Moreover the SMA is pointing down with the RSI on the bearish side of 50 (blue rectangle). The right chart shows the hourly time frame. Here the green 5-hour EMA has crossed below the orange 10-hour EMA (green ellipse) and the RSI has moved below 50 (bright green rectangle). These are bearish developments and if the EMAs develop further angle and separation, the index will be showing further weak
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.