My analysis for the week of EURUSD.
The uptrend that has occurred over the past couple of weeks seems to have come to an end.
Price is now starting to dip.
As you can see a hidden bearish divergence has occurred on the 15TF.
We have also seen price start to reject the BB which is currently acting as a dynamic resistance.
We see price settle on the 50 Fib mark on the most recent retracement which gives a strong short bias for me.
the 100 mark on the fib extension would line up almost perfectly with S3 on the daily PP which is where i'm looking to ride this one to (with risk management!).
Setting SL just above previous 4hr support.
We've also got a cross on the stochastic.
Really couldn't ask for anymore on this one!
Let me know you opinions guys.
Have a good week of trading!!
The uptrend that has occurred over the past couple of weeks seems to have come to an end.
Price is now starting to dip.
As you can see a hidden bearish divergence has occurred on the 15TF.
We have also seen price start to reject the BB which is currently acting as a dynamic resistance.
We see price settle on the 50 Fib mark on the most recent retracement which gives a strong short bias for me.
the 100 mark on the fib extension would line up almost perfectly with S3 on the daily PP which is where i'm looking to ride this one to (with risk management!).
Setting SL just above previous 4hr support.
We've also got a cross on the stochastic.
Really couldn't ask for anymore on this one!
Let me know you opinions guys.
Have a good week of trading!!