XEU Euro Daily Chart; Death Cross

The euro prints a death cross with the 50-day MA falling below the 200-day MA. As typically occurs, price will likely bounce after the death cross. If the 50 remains under the 200, the euro will continue trending lower for the weeks to come. Euro bulls need to move price higher to swing the 50-day MA upwards.

The euro failed out of the sideways symmetrical triangle in April. The vertical side of the triangle is about 5 handles so the failure at 122.4 targets 117.4 which was achieved in May. The euro chops sideways over the last month. Of course, since the euro prints a death cross the US dollar index prints a golden cross with the 50-day MA crossing up through the 200-day MA (the euro and dollar move inversely to one another). This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.