Avril_Forex

EUR/USD The end of pullback or a new channel??

FX:EURUSD   Euro / U.S. Dollar
Hello friends

Last week with the US news, we saw a strong upward movement

By checking the chart in:

Monthly time frame:
- The price moved up from the dynamic support level with the formation of a doji candle, with a relatively strong candle
And now it is at a resistance level
And it seems that the price is in the range area
- Stoch RSI; Above 80 (although in Metatrader, it is below 50 and tends to rise}
- RSI; In the range of 50
- MACD; Close to zero is the range
- MA; It is on the 20 range, and has hit 50

Weekly time frame:
- Relatively strong bullish candle, with a long shadow above
- Stoch RSI; Above 80 and tending to decline
- RSI; Nearly 50
- MACD; Range
- MA; on the 20, 50 and 100 ranges, and has hit but not broken the 200

Daily time frame:
- Relatively strong bearish candle
- Stoch RSI; with divergence and downward tendency
- RSI; Divergence and tendency to decline
- MACD; Divergence
- MA; Price above 200

4H time frame:
- Stoch RSI; Nearly 20
- RSI; Above 50
- MACD; Tendency to descend

And smaller time frames tend to converge and go up

Next week, I think
1- The price will have a downward trend with a short-term increase at the beginning of the week
2- With less probability, the price may continue its upward trend

* Anyway, I am waiting for the start of trading and getting confirmation to open the position
** Don't forget stop loss (without money, we have no power to trade)

Be profitable

Thank you for expressing your opinion with likes and comments

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