EURUSD may go back to the upward trend
Due to the mortgage problem, the EURUSD went up sharply for a while. Now, the price started to go down; and we can see two big red candles here.
Does this mean the mortgage problem is over?
I don’t think so.
The downward price movement could just be a retracement of the upward trend. Let’s see, it is now just at the 0.618 level of previous upward movement. So, it could receive enough pressure here.
The MACD seems still to show the bearish signal. The blue line is far from the orange line. The RSI stays in around 45, and recently it seems to go up a little.
Let’s wait for more signals to reveal bullish.
Does this mean the mortgage problem is over?
I don’t think so.
The downward price movement could just be a retracement of the upward trend. Let’s see, it is now just at the 0.618 level of previous upward movement. So, it could receive enough pressure here.
The MACD seems still to show the bearish signal. The blue line is far from the orange line. The RSI stays in around 45, and recently it seems to go up a little.
Let’s wait for more signals to reveal bullish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.