📉 Euro Bearish vs U.S. Dollar

The Euro is set to move lower against the U.S. Dollar (EURUSD).

Let's start with the weekly timeframe: (All the moving averages are active)

➖ This week, we have the strongest bearish session since September 2022.
➖ This strong bearish session is happening as a rejection at EMA100, EMA10, EMA50 and EMA21. All major moving averages. These are specially strong/relevant/important since we are looking at the weekly timeframe.
➖ Lower highs have been happening since July 2023. The pair has been bearish for a while now.
➖ Early to mid-2023 bullish action was part of a relief rally only, no impulse nor bullish phase but instead a brief period of recovery before the resumption of the bearish move.

👉 Since we have a long-term lower high in July 2023 compared to mid-2021, we can expect a lower low on the next move. Lower highs lead to lower lows.

The daily chart and shorter timeframes won't be needed.

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