The world’s most traded currency pair could be about to drop f | FXTM Forex Market News
The world’s most traded currency pair could be about to drop further.
EURUSD has formed what’s known as a “death cross”, whereby its 50-day simple moving average has crossed below its 200-day counterpart.
Such a technical event typically heralds further declines.
The currency pair is now testing the psychological 1.20 mark as a support level, failing which then the early-February low of around 1.1955 could be the next area of interest for bears.
May is typically a bad month for the euro. Over the past 10 years, the euro has averaged a 1.63% monthly decline versus the... Read More (https://www.forextime.com/market-analysis/eurusd-forms-death-cross)
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