S&P (blue) has diverged from housing stocks which peaked in late Jan 2018.
Homebuilders are continuing to decline.
While new homes sales are only 5% of GDP, the downstream purchases that are associated with new home sales (home appliances, furniture, various house updates, and electronics) account for 25% of GDP.
It is possible the slowing down of new home...
RSI 3 crossed above 20
RSI14 crossed above 30
This may be another attempt at a trend change ( to uptrend).
Last time this occurred was in July, but it failed due to increasing USD strength.
I would enter at .6582 with .6544 as my stop.
More strength down. Shorting from 27.93
I do not like to short with the prices being already depressed from recent tariff war between USA and China, but I have to following the price movement.
I would use a stop of 28.80 and see how far the price will move down.