Previous idea for a bounce off the trend did not work. Trend has now broken on the weekly. could be a bit quiet this week (or even move up a bit, as it's very oversold on lower time frames) , but we should start seeing more movement south when/if it refuses to get back in to the trend.
EURUSD is coming to the end of it's RSI Flag and Candlestick falling wedge. Candlestick and RSI in absolute sync. I'm feeling bullish, but i have seen falling wedges on EURUSD end up bearish in the past... please leave youR opinions below!
Candles have compressed into a falling wedge pattern over the past couple of months, and the RSI has also compressed but into a flag pattern. Technically (correct me if i'm wrong), this looks and feels extremely bullish, and could blow at any minute. Fundamentally though ( again, correct me/educate me where i'm incorrect), i feel the euro hasn't got enough support...
The channel it's approaching has been pretty well respected. But, there is one swing low, and it's massively overbought on the 80 RSI. this is a chart i've only just started working on, so thoughts an ideas would be greatly appreciated.