The trend resistance line for 1 day bar is combined with the MACD is indicating a small uptrend. before a breakout of the trend resistance line starting a retracment down to 1,137. This is indicated by the fibonacci retracement line combined with the previous retracement line shown by the blue arrows. The retracment is also indicated by the RSI oversold and the MACD, both on the weeky bars.
I think it would be wise to not place a short before the current trendline on the daily bars has been broken. This could be more confirmed by the crossover of the 9 day EMA and the 50 day EMA.
This is just my analysis of the current situation of EURUSD. I would like to hear your opinion on EURUSD.
I think it would be wise to not place a short before the current trendline on the daily bars has been broken. This could be more confirmed by the crossover of the 9 day EMA and the 50 day EMA.
This is just my analysis of the current situation of EURUSD. I would like to hear your opinion on EURUSD.