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EURindex computer indicator shows the price changes in the euro currency index, which are entailed by price fluctuations in other major currency pairs on Forex.
From practical point of view, there are two ways of using the index for trading EUR/USD and other currency market instruments on Metatrader. The first one is associated with crossovers, and the second one is based on divergence.
this is why EURO was falling.. the answerWe noticed that the EURO was falling for the past two years. Now we see why. the major downtrend of the EURO is almost at the end. I expect personally some reversal signs at the end of this week and the upcoming two weeks. this will push the EURUSD and the EURJPY higher. The Eur will probably surge for the upcoming few months. this will push the DXY significantly lower because EUR had a 52% share in the DXY composition.
EURO CURRENCY INDEX BULL PERSPECTIVEEURO CURRENCY INDEX BULL PERSPECTIVE
Finally EURO shows therir trend. The final impulse that create a LL .
Now price is just at the start of a bull continuation.
With todays open in the market and a very extended bull candel.
A reversal is needed. At 38% of fibbo good price for enter long. And with a Sl below the Channel. A very good scenario for going long is now.
Actually the confirmation was made.
Good start of the week
And as always good luck!!!