Scalping opportunity on EURUSD within a downtrend

16 במאי 2018

After a very aggressive Channel Down on 1D (RSI = 30.602, STOCH = 25.105), the price is starting to consolidate (MACD = -0.011, Highs/Lows = -0.0075, BBP = -0.0246). The potential Rectangle pattern (1.1750 - 1.1950) resembles the November - December 2017 High VOlatility zone on the same prices. 1.1750 is expected as a bottom target, followed by a Lower High near 1.1950 and then a deeper drop near 1.1570.