Hey guys EURUSD on the weekly looks short backed by:
1) Week close on a Inverted hammer in an uptrend...foreshadowing a downtrend
2) Top resistance it rejected
3) RSI is overbought therefore signalling a sell
4) Trend to 38.2 fib is broken
Furthermore, we can see we have two supports, one horizontal and one support TL. From this, we can potentially forecast a downtrend to at least 1.083. The price is then likely to go long depending on the fundamentals in June.
Comment on your thoughts.
Thanks
1) Week close on a Inverted hammer in an uptrend...foreshadowing a downtrend
2) Top resistance it rejected
3) RSI is overbought therefore signalling a sell
4) Trend to 38.2 fib is broken
Furthermore, we can see we have two supports, one horizontal and one support TL. From this, we can potentially forecast a downtrend to at least 1.083. The price is then likely to go long depending on the fundamentals in June.
Comment on your thoughts.
Thanks