EUR/USD is steadily heading south and has been Friday afternoon.
Currently the price has pushed through the 25 and 50 EMA on H1 and is now hovering just above the 100 EMA.
Its possible that the 100 may support the price so I've set a SELL STOP under the 100 at 1.0910 and if the 100 EMA breaks then this trade will trigger.
With the 200 EMA on H1 below the price, this will be my initial target (1.0886).
STOP is just on the 50 EMA on H1 which is above the last 2 candles high.
The MACD is signalling SHORT with the slow and fast MA's heading towards zero.
RSI is of some concern as we are now bang on the 30 level so I anticipate some sideways movement in order for the RSI to climb and then fall.
The Andean Oscillator is a confirmed SELL with the red signal line having crosssed the green BUY line.
Pivot Point Supertrend has also recently given a SELL signal.
So all the signs are that we are headed lower but we do need to break the 100 EMA in order to see the price move south.
Currently the price has pushed through the 25 and 50 EMA on H1 and is now hovering just above the 100 EMA.
Its possible that the 100 may support the price so I've set a SELL STOP under the 100 at 1.0910 and if the 100 EMA breaks then this trade will trigger.
With the 200 EMA on H1 below the price, this will be my initial target (1.0886).
STOP is just on the 50 EMA on H1 which is above the last 2 candles high.
The MACD is signalling SHORT with the slow and fast MA's heading towards zero.
RSI is of some concern as we are now bang on the 30 level so I anticipate some sideways movement in order for the RSI to climb and then fall.
The Andean Oscillator is a confirmed SELL with the red signal line having crosssed the green BUY line.
Pivot Point Supertrend has also recently given a SELL signal.
So all the signs are that we are headed lower but we do need to break the 100 EMA in order to see the price move south.