Based off the presented trend thus far this week Im banking continuation.
On 1 hr MACD charts MACD is pushing to cross back down on signal line below the MACD 0 line while the MACD line is set to bounce of signal line below MACD 0 line on 2 chart. MACD and signals on 3 and 4 hour chart have already made the cross down over the MACD zero line to eliminate significant pullbacks.
That being said RSI on hourly charts have not crossed the oversold zone. Given trend direction, indicators, and current strength and sentiment for USD im leaning towards a drop.
On 1 hr MACD charts MACD is pushing to cross back down on signal line below the MACD 0 line while the MACD line is set to bounce of signal line below MACD 0 line on 2 chart. MACD and signals on 3 and 4 hour chart have already made the cross down over the MACD zero line to eliminate significant pullbacks.
That being said RSI on hourly charts have not crossed the oversold zone. Given trend direction, indicators, and current strength and sentiment for USD im leaning towards a drop.
Order cancelled:
Late update but it was a no brainer not to take this trade. The MACD and signal ended up in a near bounce and continued upward rather than Crossing down. It is important to stay psychologically patient and true to your rules. Sometimes we can get all excited and assume we know where the direction of a trend is going before true confirmation.