Good Afternoon Traders,
The Euro is looking to continue its move upward on the USD, but not before pulling back to Support. Bearish Divergence has formed on the 8H and price may be pulling back to the Support around 1.10000
RSI is in over-bought territory and may form a lower-low following the anticipated pull-back. Long entry consideration would be made following rejection at the support (1.10000) and formation of Hidden Bullish Divergence on the RSI/MACD.
On the 1D, price is hitting a moderate resistance and RSI is nearing Overbought territory.
Thanks for reading. If you liked my analysis, please give me a follow.
*The above is not investment advice but simply my analysis of the current market conditions*
The Euro is looking to continue its move upward on the USD, but not before pulling back to Support. Bearish Divergence has formed on the 8H and price may be pulling back to the Support around 1.10000
RSI is in over-bought territory and may form a lower-low following the anticipated pull-back. Long entry consideration would be made following rejection at the support (1.10000) and formation of Hidden Bullish Divergence on the RSI/MACD.
On the 1D, price is hitting a moderate resistance and RSI is nearing Overbought territory.
Thanks for reading. If you liked my analysis, please give me a follow.
*The above is not investment advice but simply my analysis of the current market conditions*