Stumbling the EURUSD legs by the hour
Let's forget about all the fancy stuff. Let's Keep it Simple and Stupid, let's KISS the EUR goodbye for now? :)
-price is meeting resistance (horizontal & downward sloping trendline)
-the former negative divergence worked out
-RSI has now turned oversold (= a negative)
-but the current upswing is not getting the RSI into overbought level again.
At least so far. That is a NEGATIVE.
Aslo, Weekly, daily & 4 hour are in downtrend.
So - you would want to add LONG here?
No way. It's a good point to add to shorts IMHO. Support won't just give way, easily either (1.1050) , but shorts are the way to go nontheless.
-price is meeting resistance (horizontal & downward sloping trendline)
-the former negative divergence worked out
-RSI has now turned oversold (= a negative)
-but the current upswing is not getting the RSI into overbought level again.
At least so far. That is a NEGATIVE.
Aslo, Weekly, daily & 4 hour are in downtrend.
So - you would want to add LONG here?
No way. It's a good point to add to shorts IMHO. Support won't just give way, easily either (1.1050) , but shorts are the way to go nontheless.
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