I see the EUR/USD creeping up to 1.250 where a major decision point may have to be made.
Why:
- Upper end of major trend line
- Lower end of new trend line that was broken, so a possible retest or slip back into the newer upward trend.
- Cloud heavy bottom line acting as ceiling
- Lots of volume around that area, and major volume level just before it
- RSI wants to turn over as slightly oversold
Why:
- Upper end of major trend line
- Lower end of new trend line that was broken, so a possible retest or slip back into the newer upward trend.
- Cloud heavy bottom line acting as ceiling
- Lots of volume around that area, and major volume level just before it
- RSI wants to turn over as slightly oversold
Note
Well it double tapped the pressure point. made a couple strong pin bars. RSI shows over bought, cloud looms heave from above, and it touched the huge downward trend top. signs may point to a big down move.Note
Well it bounce off the pressure point. interesting set up is it is not making a lower low. if it turns to the upside i'd anticipate another move to the top of the channel again.
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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.