EUR/USD: Double top pattern? Indicators suggest downside to come
Updated
Hey guys,
Yesterday's close was important for the pair and suggests that it could have reached a top at 1.25.
This level has been tested many times unsuccessfully and RSI DAILY and RSI WEEKLY show a bearish divergence.
Besides, we have a bearish engulfing candlestick on the daily.
Fundamentals (Italian elections to come in early March + Brexit) also suggest that EURUSD could fall hard in the coming days.
Cheers
Jesse
Yesterday's close was important for the pair and suggests that it could have reached a top at 1.25.
This level has been tested many times unsuccessfully and RSI DAILY and RSI WEEKLY show a bearish divergence.
Besides, we have a bearish engulfing candlestick on the daily.
Fundamentals (Italian elections to come in early March + Brexit) also suggest that EURUSD could fall hard in the coming days.
Cheers
Jesse
Note
Check out volume... Last week was the most important week since a long time in terms of volume. And the weekly candle was bearish.
This can also give a good indication that price will reverse.
Note
I am convinced these levels will not hold and expecting a drop in the days to comeNote
Note
Trade closed: target reached
The idea was published on the 17th of February, I was already bearish on EUR/USD and bullish on USD/CHF.
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