JohnLaw
Short

Stumbling the EURUSD legs by the day

FX:EURUSD   Euro Fx/U.S. Dollar
KEEPING THINGS SIMPLE ON THE EURUSD            
(1 day, log scale)


-price was meeting resistance (horizontal & downward sloping trendline ), has turned
-the April/May negative divergence worked out
-at the time, RSI was just slightly at overbought levels (I would prefer a larger RSI overbought reading for a start of an uptrend).
-we have a slightly lower high, that by itself counted as a negative for EURUSD            
-RSI now turned to the downside, and it has now reached the maximum low of any RSI bull range 40-70

BUT:
- the downtrend has not proven wrong
- the utrend is broken on the daily
- the gap (AGAIN a gap!) has been filled on the currently developing retest (AGAIN!). What a bitch, this EURUSD             is :)

In all & until proven otherwise: EURUSD             on the daily switched from neutral to bearish some time ago, there's no other way to look at it. Surely, it will bounce off here and there , but all action looks to the downside. First target: 1.0820, thereafter (after a short rebound) possibly a retest of 1.0450.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out