The EURUSD has made a short term market structure shift to the down-side and retraced back up to the 79% Fibonacci Retracement level. I am anticipating the asset the drop to the 1.1825 as a first target level where I will be taking partial profits and reducing my exposure, and if this level is reached, I will be moving my stop loss to break even to scale out the...
The USD index has been showing bullishness until last week where we have seen a week long retracement back down to a previous resistance turned support level. This level also correlates with the 62% fib retracment level. After testing these levels on thursday, the asset formed a pin bar and broke market structure to the upside on Fridays close last week. Upside...
The RSI is showing weakness in momentum while EURUSD has shown strength. Divergence concepts usually have three diverging swings before the asset aligns with the RSI. I believe that the EURUSD is about to make a market structure shift to the downside based around the RSI divergence concept.
