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New York Session Watch EURUSD

Short
FX:EURUSD   Euro / U.S. Dollar
There is a hanging man candlestick pattern on EUR/USD followed by a bearish bar. This could cause the price to decline from here, in today's New York session. The long term trend is still bearish as the short term moving averages (10 and 20 period) stay below the long term moving averages (50,100 and 200 period). The Tenken-sen and Kijun-sen started to diverge since yesterday which could be an early sign for another down leg coming. Note that the stochastic is telling us that it's overbought when the hanging man candlestick pattern was formed which adds fuels to the bears in this market. The parabolic SAR indicator is suggesting the downside too. With all the indicators pointing to the downside, we could potentially have selling opportunities in today's New York session.

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