Continued rally for EURUSD?
EURUSD consolidates in a range after rallying strongly since the end of May.
The GoNoGo Trend is still “Go” but there is a little weakness depicted by the pale blue bars.
At the same time, there has been bearish divergence between the GoNoGo Oscillator making lower highs and price barely making a higher high.
Right now, the GoNoGo Oscillator is riding the zero causing the GoNoGo Squeeze grid to start to climb once more.
The longer the Squeeze is on, the more likely the possibility of a strong directional move once the squeeze is off.
For new highs, the GoNoGo Oscillator will have to break out of the squeeze into positive territory.
The GoNoGo Trend is still “Go” but there is a little weakness depicted by the pale blue bars.
At the same time, there has been bearish divergence between the GoNoGo Oscillator making lower highs and price barely making a higher high.
Right now, the GoNoGo Oscillator is riding the zero causing the GoNoGo Squeeze grid to start to climb once more.
The longer the Squeeze is on, the more likely the possibility of a strong directional move once the squeeze is off.
For new highs, the GoNoGo Oscillator will have to break out of the squeeze into positive territory.
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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.