Let's forget about all the fancy stuff. Let's Keep it Simple and Stupid, let's KISS the EUR goodbye for now? :)
-price is meeting resistance (horizontal & downward sloping trendline)
-the former negative divergence worked out
-RSI has now turned oversold (= a negative)
-but the current upswing is not getting the RSI into overbought level again.
At least so far. That is a NEGATIVE.
Aslo, Weekly, daily & 4 hour are in downtrend.
So - you would want to add LONG here?
No way. It's a good point to add to shorts IMHO. Support won't just give way, easily either (1.1050) , but shorts are the way to go nontheless.
-price is meeting resistance (horizontal & downward sloping trendline)
-the former negative divergence worked out
-RSI has now turned oversold (= a negative)
-but the current upswing is not getting the RSI into overbought level again.
At least so far. That is a NEGATIVE.
Aslo, Weekly, daily & 4 hour are in downtrend.
So - you would want to add LONG here?
No way. It's a good point to add to shorts IMHO. Support won't just give way, easily either (1.1050) , but shorts are the way to go nontheless.
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Related publications
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.