EUR/USD - Trading range. Trend analysis
Trend analysis:
- As you can see on EUR/USD daily chart, we are currently proving bearish range pattern and thats why it's important to follow this trend in long period of time (Predictable ending on green support zone). But in the short term we can expect correction to resistance level (Price on red line). As a trader, I recommend you to wait for more correct signals to open position in short time.
Chart pattern:
- Head and shoulders (finished)
- Range pattern remains (functioning)
Technical indicators:
- RSI: market is oversold right now at 30 level (Bull signal)
- MACD: market is still bearish cause of MA lines are moving away from each other and overall trend is going down (Short, Bearish signal prevails)
- BB: Volatility increased after down movement (Bull signal in short term, Bear signal in long term)
- MA (10,20): MA10 going rapidly down then MA20 (Bear signal)
= Bearish movement in long term, Bull movement in short term
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P.S.: Information provided is only educational and should not be used to take action in the market.
- As you can see on EUR/USD daily chart, we are currently proving bearish range pattern and thats why it's important to follow this trend in long period of time (Predictable ending on green support zone). But in the short term we can expect correction to resistance level (Price on red line). As a trader, I recommend you to wait for more correct signals to open position in short time.
Chart pattern:
- Head and shoulders (finished)
- Range pattern remains (functioning)
Technical indicators:
- RSI: market is oversold right now at 30 level (Bull signal)
- MACD: market is still bearish cause of MA lines are moving away from each other and overall trend is going down (Short, Bearish signal prevails)
- BB: Volatility increased after down movement (Bull signal in short term, Bear signal in long term)
- MA (10,20): MA10 going rapidly down then MA20 (Bear signal)
= Bearish movement in long term, Bull movement in short term
Dear friends, please push the like button, write comments below, follow me and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.
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