EURUSD: Under the 4H MA50 confirming a sell extension.

EURUSD crossed yesterday under the 4H MA50 for the first time in 1 month and naturally turned the 4H technical outlook bearish (RSI = 35.006, MACD = -0.002, ADX = 40.444). Combined with the Bearish Cross on the 1D timeframe, this is a medium term sell signal. This combination has taken place before inside 2023 another two times and on both, the 4H MA200 wasn't enough to provide Support, not even the 1D MA50, which got targeted with relative ease.

All declines happened inside Channel Down structures. Consequently this is a technically validated level to short the market. We aim for a contact with the 1D MA50 (TP = 1.07200).

See how our prior idea has worked:



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