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The Euro remains inside of a falling channel, creating lower highs since 2008. A smaller falling channel is forming inside of the larger channel and now the Euro is breaking below its 200-EMA line at (1) above.
Will the Euro breaking below this long-term moving average bring in even more selling pressure? Often time a break like this does! Stay tuned…
At the same time the Euro is breaking below this key moving average, the U.S. Dollar is doing something it hasn’t done in 10-Years! (see Dollar post here)