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proofofjay
Nov 28, 2018 3:07 AM

EURUSD DownTrend Doesnt Seem Over 

Euro Fx/U.S. DollarFXCM

Description

EURUSD clearly in a downtrend since ~April '18 that doesn't seem to be nearing exhaustion yet (Good volume)

Sitting on a bullish OB as well as on support of a desc. triangle, therefore could see a slight short-term relief
pump here to ~(1.425 - 1.5), before a significant decision is made

StochRSI sitting in NoMan'sLand & RSI at ~36, signaling additional long/mid-term sell off to be seen.
If we break support, next bullish OB is just under 1.1 (~ -3%)

Not sure how to interpret fib here, but if this is the bottom, .618 fib sits at .12 (A 6.7% gain)
Comments
SnaY_
agreed
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