EOSUSD: Bearish Divergence as Trend Reversal Signal

The 4H chart gives us a trend reversal signal based on a bearish divergence. MACD supports a downward movement. DMI is bullish, but ADX line falls. It is a signal that buyers don't have the power to push the price higher. If the price breaks the local uptrend line, the downward movement will be confirmed.

The market stays bullish in the long run, but the correction movement can reach the support zone at 3.00, SMA100, and SMA200. These lines will be good for buying based on reversal signals.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.