Hey guys, sorry i disappeared for last week, i had a lot going on but i can say im back with that POWAH BABYYYYY. Anyways let get right into this idea and what im expecting to see for the next session.
It looks to me that Euro is weakening because price is at a high. It made a lower high compared to the local high right next to it and it would look more sensible if it broke down a little bit. If we use an indicator, you would see that the 4H RSI is over bought and could potentially be ridden down to the lower precise.
This doesnt negate the fact that the overall trend is upwards for the whole entirety of last week. I have the main trend in purple so its easier to visualize what im talking about. With this in mind, it is entirely possible for price to continue upside and break the current resistance to make a higher climb.
As of right now we see that price is dropping so until i see a break of that top resistance im seeing more short potential over long
Thank You guys for checking out my idea and dont be shy, FOLLOW me for updates when i post, i got more coming as i trade, just had to take a break from posting for a bit and get my edge back.
It looks to me that Euro is weakening because price is at a high. It made a lower high compared to the local high right next to it and it would look more sensible if it broke down a little bit. If we use an indicator, you would see that the 4H RSI is over bought and could potentially be ridden down to the lower precise.
This doesnt negate the fact that the overall trend is upwards for the whole entirety of last week. I have the main trend in purple so its easier to visualize what im talking about. With this in mind, it is entirely possible for price to continue upside and break the current resistance to make a higher climb.
As of right now we see that price is dropping so until i see a break of that top resistance im seeing more short potential over long
Thank You guys for checking out my idea and dont be shy, FOLLOW me for updates when i post, i got more coming as i trade, just had to take a break from posting for a bit and get my edge back.