EURUSD declined after reaching resistance of EMA50, reinforcing negative pressure on price
RSI showing negative overlapping signal, suggesting possibility of extending bearish wave
The (EURUSD) declined in its last trading on the intraday levels, after reaching the resistance of EMA50, reinforcing the negative pressure on the price, especially with the continuation of its trading under the dominance of minor bearish wave on the short-term basis, and its move alongside a supportive bias line for the negative trend.
At the same time, the (RSI) began showing negative overlapping signal, after reaching overbought levels, which suggest the beginning of forming negative divergence that might increase the possibilities for extending the bearish wave in the upcoming period, unless the pair succeeded in regaining its balance and getting rid of the negative pressure.
