EUR/USD - RSI DIVERGENCE | OVERBOUGHT STOCHASTIC / TREND LINE

16 ביולי 2020

EUR/USD has consolodated for the past few weeks and has recently pushed higher. Indicators suggest a reversal from here.

• Daily Bearish RSI Divergence
  
• Trend Line Rejection
  
• Daily Stochastic Overbought
  
• Potential 200WMA Rejection (Weekly Candle) @ {1.1331}
  

VERDICT: Due to the reasons above, I forecast EUR/USD to fall in the short/mid term and will look to open a short position when the opportunity presents itself. Bear case strengthens if price closes below {1.1331} on the weekly candle.

16 ביולי 2020

הערה

NOTE: 200WMA translated onto daily chart, as shown above, is off by ~70pts