Euro against the dollar hasn't been this high since April 2018. Since April 2018 EURUSD has been plummeting
There's clear Bearish Divergence on the Daily Timeframe.
Last week Thursday's Daily candle closed with a strong Bearish with a lot of momentum to downside, which formed a Bullish Engulfing candlestick pattern, which is a strong reversal candlestick pattern.
There was a lot of inefficient pricing from the 16th of April till the 7th of May, which was never filled. There's a bit of inefficient pricing between the 13th and 27th July which i expect to be filled in the coming month or months before EURUSD will be Bullish again.
I'm expecting EURUSD to drop down till 1.15-1.14
There's clear Bearish Divergence on the Daily Timeframe.
Last week Thursday's Daily candle closed with a strong Bearish with a lot of momentum to downside, which formed a Bullish Engulfing candlestick pattern, which is a strong reversal candlestick pattern.
There was a lot of inefficient pricing from the 16th of April till the 7th of May, which was never filled. There's a bit of inefficient pricing between the 13th and 27th July which i expect to be filled in the coming month or months before EURUSD will be Bullish again.
I'm expecting EURUSD to drop down till 1.15-1.14