EURUSD in the last few weeks had broken higher after there was a bullish RSI break to the upside. After a strong move up prices fully retraced the move and actually gave a BEARISH Hammer pattern on weekly chart. With RSI breaking the bullish momentum we can see further decline in EUR.
EUR has been moving sideways for over moths now after completing a impulsive decline to lows of 1.05.
Sideways price action often unfold in the direction of the longer term trend which in this case is downwards.
Good luck.
EUR has been moving sideways for over moths now after completing a impulsive decline to lows of 1.05.
Sideways price action often unfold in the direction of the longer term trend which in this case is downwards.
Good luck.