The Euro is down to 1.048, after ending yesterday at 1.0481. Overall, a 0.01% loss or 1 pips today.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. On the other hand, note that the Relative Strength Index has gone below 30, going into oversold conditions and allowing more gains. Euro-Dollar's lower Bollinger Band® is at 1.0476, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for the Euro.
Positive performances can be seen by looking at other currencies as GBP/NZD increases 0.19% to trade around 2.035. EUR/NZD increases 0.18% to trade around 1.764.
n the meantime, USD/SGD trades close to 1.3734, with no major change
The currency pair has been trending lower for about 2 months. The Euro has shed 78.55% over the past three months.
This content was generated by AI