The (EURUSD) continued to slide during its recent intraday trading, breaking a major short-term upward trendline. This decline came alongside the pair falling below EMA50, increasing the negative pressure on the pair and weakening any hopes of a near-term recovery.

This also coincides with the beginning of a negative crossover on the relative strength indicators, after the pair managed to ease part of its oversold conditions, opening the door for further losses.