The EURUSD pair got an initial rejection near its 2-month Higher Highs trend-line with the 4H RSI an a Bearish Divergence (Lower Highs) since April 03.
The last pull-back was -2.31% and made double contact with the 4H MA50 (blue trend-line) before rebounding. In fact all Higher Highs rejections hit at least he 4H MA50 before rebounding.
As a result, we see a strong short-term sell opportunity now, which even though could technically reach 1.12150 (-2.30% drop), it is advised to take profit once contact with the 4H MA50 is made.
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The last pull-back was -2.31% and made double contact with the 4H MA50 (blue trend-line) before rebounding. In fact all Higher Highs rejections hit at least he 4H MA50 before rebounding.
As a result, we see a strong short-term sell opportunity now, which even though could technically reach 1.12150 (-2.30% drop), it is advised to take profit once contact with the 4H MA50 is made.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.