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Michael_Harding
Nov 15, 2022 12:39 PM

EURUSD - Top Down Analysis for Nov 15 Short

Euro Fx/U.S. DollarFXCM

Description

Starting with the 1 hour timeframe, as we head into the NY trading session, traders will keep an eye out for the NY Empire State Manufacturing Index at 8:30 with expectations for an improvement from -9.10 to -5.00

As of writing this analysis, bullish price action is beginning to stall out.

Let's now take a look at the 4 hour timeframe

== 4 HOUR ==


The 4 hour time frame shows further evidence of bullish stalling action.

Lastly, let's take a look at the daily timeframe

== DAILY ==


The daily timeframe, shows price action resisted off the 200 SMA while Stochastics and RSI is hinting at overbought conditions.

== IN SUMMARY ==
Upside seems limited for the time being
Comments
Tradersweekly
Thank you for the idea.
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