Last rally is showing clear signs of weakness. Price found strong resistance near the top and formed multiple dojis.
From the technical perspective we can see a double top formation called "adan and eve".
Indicators also support this view:
- bearish divergence on macd
- RSI trendline broken
- bearish divergence on stoch
Next week we have no strong USD news till friday (retail sales), so i expect a technical decline the first days of the week.
If the news are negative price could reach last lows.
Best regards.
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
From the technical perspective we can see a double top formation called "adan and eve".
Indicators also support this view:
- bearish divergence on macd
- RSI trendline broken
- bearish divergence on stoch
Next week we have no strong USD news till friday (retail sales), so i expect a technical decline the first days of the week.
If the news are negative price could reach last lows.
Best regards.
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).