EURUSD Reacts Off Of Daily SMA
The left charts shows the EURUSD daily time frame. The pair is reacting off of the black 20-SMA and the SMA is heading down (blue square). The daily RSI is on the bearish side of 50 (bright green rectangle). The right chart shows the hourly time frame. Here we see that the EMAs have crossed down and that the hourly RSI has dipped below 50 (green ellipses). These are bearish developments. If the EMAs develop angle and separation than the EURUSD's downwards momentum will be increasing.
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