ForceFollower

Rally in the offing

Long
FX:EURUSD   Euro / U.S. Dollar
5
The up trend is over for me, but no bearish sentiment either; the pair will just stay in a trading range for some time. A nice rally expected now, as the recurring support/resistance forces along the Median Line have come to cushion the abrupt sell-off decline. I admit I lost here - I didn't see it coming, although now I can see RSI divergence was warning of a possible change in behavior. At best we'll see the price hit the 1.3382 level (alternate high plus the palate, ie. the bottom of the range at the recent top), making some kind of H&S. But I may take profits sooner than that.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.