denovo
Short

Greek vote? RSI negative reversals from last week signal new low

FX:EURUSD   Euro/U.S. Dollar
82 0 0
RSI negative reversals on both monthly and weekly charts: (point 1 close - point 2 close) subtracted from point 3 close = target; a close above point 1 close negates the signal. The tighter the signal the better; 2-5 bars between points 1 & 2 is optimal, and that's what we see here.

RSI 60 level is usually maximum resistance in a bear market - we haven't been above that level in quite some time and it's failing to even break 50 on the weekly since the decline began last year...

Monthly chart: (1.12224 - 1.11404) = 82 pips subtracted from 1.07303 = 1.06483 minimum target on close

Weekly chart: (1.14427 - 1.13450) = 97.7 pips subtracted from 1.04878 = 1.03901 minimum target on close

I went short last Thursday at 1.10954 with a stop @ 1.11712; I plan to take 1/3 off as soon as that puts me into a breakeven trade. A failure of the weekly RSI negative reversal signal would be a good long play if it goes that way...
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out