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-On a 1-hour time frame, we can see a very strong movement in a bullish direction.
-Now we can see that the price is testing and rejecting resistance with a solid bearish candle.
-We can see that the price is forming a strong bearish candle and we can also see that the price is in the overbought condition on a stochastic indicator.
-If the price forms a solid bearish engulfing candle, that will be a very nice sell signal and we can expect that the price may fall until it reaches the support zone.
-On a 4-hour base, EUR is stronger than USD and on a 1-hour base, USD is stronger than EUR.
-If EUR remains stronger on a lower time frame we can expect that the price may keep moving in a bearish direction and if GBP remains stronger than USD then we may expect bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 1-hour time frame, we can see a very strong movement in a bullish direction.
-Now we can see that the price is testing and rejecting resistance with a solid bearish candle.
-We can see that the price is forming a strong bearish candle and we can also see that the price is in the overbought condition on a stochastic indicator.
-If the price forms a solid bearish engulfing candle, that will be a very nice sell signal and we can expect that the price may fall until it reaches the support zone.
-On a 4-hour base, EUR is stronger than USD and on a 1-hour base, USD is stronger than EUR.
-If EUR remains stronger on a lower time frame we can expect that the price may keep moving in a bearish direction and if GBP remains stronger than USD then we may expect bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.