JohnLaw
Short

Stumbling the EURUSD legs by the day

FX:EURUSD   Euro Fx/U.S. Dollar
KEEPING THINGS SIMPLE ON THE EURUSD            
(1 day, log scale)


-the April/May negative divergence worked out
-price was meeting resistance in June turned down as expected
-at the time, RSI was just slightly at overbought levels (I would prefer a larger RSI overbought reading for a start of an uptrend)
-we are seeing lower highs and (less pronounced) lower lows
- breaking of the trendline was followed by a pretty violent retest, all the way to 1.12

In all & until proven otherwise: EURUSD             on the daily switched from neutral to bearish some time ago, and there's no way to look at it as being bullish . Surely, it will bounce off here and there , but all action looks to the downside. First target remains: 1.0820, thereafter possibly a retest of 1.0520 / 1.0450

A breaking of the RSI support-line will be indicative of this
my Target is 1.050, too !
Reply
nice
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out