We have a triple top created on the EUR with great convergence with the RSI respecting a simple resistance at around 60%. If the triple top plays out and still fits my idea after market opening this evening, there is no reason this pair cannot fall to the 1.21500 supply area and further to 1.20711 support. Although we do have to take into consideration the ...
EUR/USD jumps by 44 points amid rate hike
As the currency rate was falling the last three weeks in a row, traders used the Federal Funds Rate hike to sell the Dollar and elevate the pair to the 1.1844 level. As long as market sentiment remains predominantly bearish the rate is expected to continue moving in southern direction. As for today, a deep plunge back to ...
Hi guys,
on EURUSD price is testing a key resistance area on the daily chart. As we go down on the 4hr chart, you can see it's created a nice pinbar (with a long wick to the top) along with RSI divergence at a psychological number (1,0800).
I'm waiting to see next bar, if it closes red, i'm shorting this pair.
Stops above the highs, target1 roughly at 1,25:1 RR, ...
