XEU Euro Daily Chart Channel Gap Negative Divergence

XEU euro daily chart shows price moving above the top rail of the downward-sloping channel. A back kiss would be in order and the red lines show the negative divergence in place across all indicators except for the RSI that is ever so slightly sloping upwards. Euro should receive a spank down from the negative divergence, which can provide a back kiss of the channel. Then a likely bounce again to satisfy the RSI. The U.S. equities markets move in the same direction as the euro.

The 20 MA above the 50 MA is bullish but the downward sloping 200-day MA is very ugly and bearish for the euro moving forward. Note the neon circle showing the gap fill that occurred today. This closes out an upside target for the euro. Projection is for a sideways euro moving forward but in the days ahead a move down in price is likely which will correspond to the broad markets moving lower. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.