The 50 day moving average dropped through the longer-term 200 day moving average indicating a sell alert after which the 100 day moving average crossed the 200 day moving average confirming a sell signal. EURUSD fell below the double top support level just below 1.128 confirming a double top which we see as an extremely bearish reversal pattern and therefore expect the currency pair to keep falling.
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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.