Euro / U.S. DollarShort
EURUSD Possibly Over-brought
Price-MN below ema-20/50/200. AO-MN shows negative momentum
with AO below both ao-ema-9/20. However, compared to the
previous month May has experienced an increase in buying pressure.
Price-W1 above ema-20/50 but below ema-200. AO-W1 shows an
increase in buying pressure with both ema-9/20 below price. However,
ema-9 is still below ema-20 yet to crossover, this could mean that:
1) Price has over extended too quickly incomparison to momentum; or
2) Early stages of a bullish crossover.
Price-D1 above ema-20/50/200, however, ema-20/50 are yet to crossover
ema-200. AO-D1 shows positive momentum with increase in buying pressure
and orderly correlation with ema-9 and ema-20.
Price-H4 has orderly correlation amongst moving averages. AO-H4 has positive
momentum however increase in selling pressure.
1) Price possibly over-brought RSI above 70%. Additionally, 1.11425 is a
area of resistance. It is within the ATR of Price-MN-ema-20/50,
Price-W1-ema-20/50.
Price-H1 has orderly correlation amongst moving averages. AO-H1 has positive
momentum with increase in buying pressure, however, AO is below ao-ema-9/20.
Ideas:
1) Sell order: if price were to move below 1.1080 you could look to sell
the pair till nearest resistance 1.0980 (100 pips); 50% retracement of
24/04/20 low at 1.0940 (140 pips); or 50% retracement from the
20/03/20 low at 1.0895 (185 pips). Stop loss to be placed at 1.1130.
2) Price may remain bullish until 1.1170 to early 1.12 before retracing.
This is my first time publishing, please if you have any constructive criticism on how I can improve I am happy to hear it.
Thanks
with AO below both ao-ema-9/20. However, compared to the
previous month May has experienced an increase in buying pressure.
Price-W1 above ema-20/50 but below ema-200. AO-W1 shows an
increase in buying pressure with both ema-9/20 below price. However,
ema-9 is still below ema-20 yet to crossover, this could mean that:
1) Price has over extended too quickly incomparison to momentum; or
2) Early stages of a bullish crossover.
Price-D1 above ema-20/50/200, however, ema-20/50 are yet to crossover
ema-200. AO-D1 shows positive momentum with increase in buying pressure
and orderly correlation with ema-9 and ema-20.
Price-H4 has orderly correlation amongst moving averages. AO-H4 has positive
momentum however increase in selling pressure.
1) Price possibly over-brought RSI above 70%. Additionally, 1.11425 is a
area of resistance. It is within the ATR of Price-MN-ema-20/50,
Price-W1-ema-20/50.
Price-H1 has orderly correlation amongst moving averages. AO-H1 has positive
momentum with increase in buying pressure, however, AO is below ao-ema-9/20.
Ideas:
1) Sell order: if price were to move below 1.1080 you could look to sell
the pair till nearest resistance 1.0980 (100 pips); 50% retracement of
24/04/20 low at 1.0940 (140 pips); or 50% retracement from the
20/03/20 low at 1.0895 (185 pips). Stop loss to be placed at 1.1130.
2) Price may remain bullish until 1.1170 to early 1.12 before retracing.
This is my first time publishing, please if you have any constructive criticism on how I can improve I am happy to hear it.
Thanks
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