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EUR/USD: Price at diagonal resistance, possible new downward movement

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EUR/USD: Upward trend, medium term choppy and short-term reise

Fibonacci correction to 38.2% on the last sudden downward movement - resistance

Price at diagonal and diagonal resistance

RSI went below 70, turning form a overbought market, which is a negative signal. The bar hasn't closed yet. We may look for a conformation when DeM goes below 0.7 or the price makes a correction - form there a good sell price with a small stop and lower risk

price action: Hanging man - BearishReversal. Slight correction to the peak of the doji candle which is 50% at the bearish bar and this will give us a good position for entry, with a relatively small stop loss.

Fed postponed the rise of interest rates, but fundamental analysis indicates that they will act soon. The Monetary policy of ECB is still expansionist and Fed's tightens - stronger dollar

SL: 1.1171

Stefan D. Angelov - Head of Stocks Trading


 Varchev Traders

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