FinanceGlossy

The Euro looks ahead to important EU economic data releases while facing several headwinds, while EUR/USD tests 2017 lows.



Weekly price broke 200 SMA for the bearish reversal: the price is located far below 200 SMA in the primary bearish area of the chart and trying to break 1.0471 support level on close weekly bar for the bearish trend to be continuing. But the weekly price is on oversold market condition according to UniRSI indicator, and it is very likely for the price to be bounced from support levels to above for the possible bear market rally to be started.

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