The Euro Has A Weak Start On Monday Trading

• 21 May 2018

EUR/AUD

The EUR/AUD pair is testing the 1.563 price level and a break to the downside would provide weight to the current bearish move. RSI has broken the oversold line at 30 and MACD has extended its trajectory into negative territory, indicating that sellers are dominating the pair.

EUR/CHF

The EUR/CHF pair has broken the lower Bollinger band on four consecutive occasions and the current candle has also opened below this level. MACD has just broken the zero line and RSI confirms bearish sentiment with a sharp downward trajectory.

EUR/NZD

The EUR/NZD pair has been testing the low price SMA with both bearish and bullish biases in the last few trading sessions. Having broken the 1.706 price level to the downside, sentiment appears to be more bearish. Momentum indicators also have a bearish bias, with a momentum reversal taking place on MACD.

EUR/CAD

The EUR/CAD pair has made a recovery after an initial sell-off. A doji candle signaled the trend change. RSI has recovered from oversold conditions and is testing the 30 support level. A break of this level would provide weight to the uptrend.