EURUSD's EMAs Move Into Bearish Stack On Daily

This chart shows the daily time frame of the EURUSD. We note that the green 5-day EMA has crossed below the orange 13-day EMA. This puts the EMAs into a bearish stack i.e. the green 5-day EMA is below the orange 13-day EMA, and the orange 13-day EMA is below the black 34-day EMA. If the EMAs develop angle and separation than price will be declining further. I.e. if the market's move more risk-off, the EURUSD is likely to decline, as demand seeks the safety of the greenback. Moreover, Europe is looking fractured, particularly after the Constitutional court ruling in Germany yesterday, which may exert further pressure here.