EM Currencies Show Weakness On H1 Time
The above chart shows the hourly of FXCM’s emerging market currencies index – EMBASKET. The observations are as follows:
– The lime green leading span A had crossed below the red leading span B.
– The forward cloud is light pink and indicates resistance.
– Price is below the black base line and the base line is moving in a direction.
– The orange lagging span is below price, which is indicative of weakness.
These observations suggest an element of bearishness for FXCM’s EMBASKET.