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Euro's Dead Cross
EURUSD's downtrend is now confirmed after its 50-day MA has fallen below its 100-day MA, strengthening the bearish technical signal with an already deteriorating fundamental foundation.
CPA
i have read the article, the question was for ashraf, as he mentions a dead cross on euro, which is bearish, but also mentions the dollar index could possibly have a dead cross this week too in his posts. surely this would negate the euro negativity if the dollar index becomes bearish too, and given euro is such a large component.
ashraf - look forward to hearing your thoughts
click "View Article" above this thread to read Ashraf's analysis
you mention $USDX could also possibly have 50-100 daily DeadCross this week. what are the consequences of this, and what has happened to the dollar index previously when this has happened?
Not sure we will see the daily four-hour grind higher in this pair in European session as dead cross will have the traders on the offers gunning for support as opposed to hitting bids for resistance
Things are getting very interesting here, and in aussie and gold.