For the past month this pair has been moving steadily within a bullish channel. Today the price has reached a very strong resistance zone, which happens to be a multi-month high. The price looks as if it would start to move down from here as it reaches the resistance level.
Regular divergence is easily spotted on this pair and a lot of the other EUR pairs. The price has created a new high and the RSI has created a lower high. This indicates a weakness in the price action meaning that the bullish trend may be coming to an end. an eye should be kept on this pair and other EUR pairs to see how the price reacts to the news.
Regular divergence is easily spotted on this pair and a lot of the other EUR pairs. The price has created a new high and the RSI has created a lower high. This indicates a weakness in the price action meaning that the bullish trend may be coming to an end. an eye should be kept on this pair and other EUR pairs to see how the price reacts to the news.