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InvestingScope
Oct 17, 2018 12:37 PM

XEMUSD: 1D Channel Down intact. Support test ahead. Short

NEM / US DollarPoloniex

Description

XEMUSD delivered the anticipated bearish leg on 1D giving shape to the new 4H Channel Down that should eventually test the 0.0777 1D support. As seen on the chart, 1D is a clear Channel Down (RSI = 48.355, STOCH = 33.730) but until that support breaks, on low gradient (MACD = -0.001, Highs/Lows = -0.0003). We are still bearish, aiming at 0.060.
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