EUR/USD: Double top pattern? Indicators suggest downside to come

FX:EURUSD   Euro / U.S. Dollar
Hey guys,

Yesterday's close was important for the pair and suggests that it could have reached a top at 1.25.

This level has been tested many times unsuccessfully and RSI DAILY and RSI WEEKLY show a bearish divergence.

Besides, we have a bearish engulfing candlestick on the daily.

Fundamentals (Italian elections to come in early March + Brexit) also suggest that EURUSD could fall hard in the coming days.



Comment: Check out volume...

Last week was the most important week since a long time in terms of volume. And the weekly candle was bearish.

This can also give a good indication that price will reverse.

Comment: I am convinced these levels will not hold and expecting a drop in the days to come
Trade closed: target reached: The idea was published on the 17th of February, I was already bearish on EUR/USD and bullish on USD/CHF.
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agree, with you, Weekly chart also shows downside potential
lovely chart!
+1 Reply
SwissPips SN_Doumet
@SN_Doumet, thanks!
Hey guys, in case you don't find my analysis published in TradingView for the pair EUR/USD, which I can't find it.
The link is here: . {explaination}
I am open to discussion.
Entry: 1.24100
Stop loss: 1.24400
TP: 1.23500
R:R ratio:1:3
@lulan98, thanks but what is the purpose of your comment ?
+1 Reply
That´s my opinion as well.
+1 Reply
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