EURUSD: Trend Reversal Signal
You can provide a lot of arguments supporting further uptrend, and probably the market will stay bullish. But the fact is, the price formed a bearish divergence with RSI and MACD histogram. It is a solid trend reversal signal which we have to take into consideration. If the price breaks the local uptrend line, we should be ready to see a downward movement toward SMA50 and 1.14000 support level. The breakout signal can be used for selling. The price reversal from MAs and the support will be used for buying.
MACD gives bearish signals as well as RSI. DMI is bullish, but ADX line is moving down. It tells us that the buyers are not so active.
If you think, the price won't move down, please provide arguments in the comments.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
MACD gives bearish signals as well as RSI. DMI is bullish, but ADX line is moving down. It tells us that the buyers are not so active.
If you think, the price won't move down, please provide arguments in the comments.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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