EOSUSD: Analysis using Ichimoku 22/07/2020H4
On D1, the cloud is directing upward, indicating an uptrend. You can visually see how the triangle price correction model is forming.
Conclusion:
We recommend selling from the upper line of the triangle pattern when the RSI reaches the overbought level again.
Also, we recommend to close sell and open buy when the price reaches the level of 2.5, and the RSI reaches the oversold level.
H1
At H4, the cloud is directing upward, indicating an uptrend. But, a divergence has formed between the RSI and the price, indicating an imminent change in price movement.
Conclusion:
We recommend selling when the RSI H1 reaches the overbought level, and we also recommend looking at the H4 chart to plan a trade.
In the medium term, we should expect the price to rise to the level of 3.5, possibly higher.
