Just about a week ago we at FxWirePro had spotted out Gravestone doji, long-legged doji and shooting star patterns at 1.2443, 1.2449 and 1.2430 levels respectively.
We reiterate that we had already raised a cause of attention that the trend indicators (DMA and MACD) were due to confirm the previous buying sentiments when the price was rising, we now still reiterate that these indicators still evidence bearish crossovers coupled with the downward convergence of leading oscillators that signal weakness in this pair.
MACD on weekly terms show bearish crossover that indicates downswings to prolong further.
Refer below weblinks for our previous post:
Ever since the occurrences of above-stated bearish patterns, it is observed that almost more than 125 pips of price dips from where we had signaled.
Currency Strength Index: FxWirePro's hourly EUR spot index is displaying shy above -59 levels (which is bearish). While hourly USD spot index was inching towards 41 (bullish) while articulating (at 07:42 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
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