EURUSD: Channel Up started its pull back.

EURUSD is about to turn neutral again on its 4H technical outlook (RSI = 55.947, MACD = 0.003, ADX = 54.703) as the uptrend got rejected today near the top of the two month Channel Up. As the 1D RSI is forming the same Bearish Divergence as the November 28th HH, we turn to selling again as this is technically the Bearish Wave of the Channel Up.

The previous HL was formed marginally over the 0.618 Fibonacci level, we aim at a similar symmetrical target (TP = 1.0900).

See how our prior idea has worked:


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