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eraxular
Nov 8, 2020 8:21 PM

EURUSD bearish push?! Short

Euro Fx/U.S. DollarFXCM

Description

Here on the EURUSD, price has previously been bullish (partially due to US election and fiscal stimulus on the cards) reaching higher hi's and higher lo's. Price has just come into a major zone of resistance @1.18500 - 1.9155 and is beginning to lose volume and momentum. On the 1hr timeframe candlesticks are small with little volume which could indicate the exhaustion of the bulls. RSI also indicates a slightly overbought market giving more of a reason to look out for some sell trades. During this week commencing, I am hoping to witness more signs and opportunities of a short trade however price may continue to stay bullish until the next major level or structure @1.19500.
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