SELL EUR/USD - Long descent to the Lower SUPPORT
After about 1 week of irregullar movement, current price action on the fibre has finaly revealed itself to not be in line with the move to the top like the last two. Rather, It turned around twice at a strong Resistance Zone that was tested during the build up, this shows that the bulls are already losing momentum and so price action is not in a Channel as depicted in my First analysis but in a strong Support and Resistance Zone.
The daily and 4 hrs Timeframes now clearly show Price acton making its move to the downside which is also confirmed by the Stochastic Oscillator which is already below 50 on both Timeframes but not yet in over sold.
Monitor to Sell, and only take this trade if it satisfies your entry rules.
The daily and 4 hrs Timeframes now clearly show Price acton making its move to the downside which is also confirmed by the Stochastic Oscillator which is already below 50 on both Timeframes but not yet in over sold.
Monitor to Sell, and only take this trade if it satisfies your entry rules.
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