EUR/USD Expected to keep being bearish for next week
Updated
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A lot of bears expected the big move down on the EU. On the daily chart prior using your Stochastic RSI you would see price had formed a bearish divergence along with price being overbought at 1.17. The weekly close offered a bit more insight as to where price is going as a rejection candle just above support has formed as well as price STILL being overbought(over 80) on Stoch RSI. You should expect a small bullish retracement upon market open this coming Monday before we continue to move further into the abyss.
A lot of bears expected the big move down on the EU. On the daily chart prior using your Stochastic RSI you would see price had formed a bearish divergence along with price being overbought at 1.17. The weekly close offered a bit more insight as to where price is going as a rejection candle just above support has formed as well as price STILL being overbought(over 80) on Stoch RSI. You should expect a small bullish retracement upon market open this coming Monday before we continue to move further into the abyss.
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