EURUSD is bullish on its 1D technical outlook (RSI = 66.538, MACD = -0.013, ADX = 29.911) but just crossed under the 4H MA50 for the first time since the March 3rd 2025 breakout when the parabolic rally started. The strongest sell signal is nonetheless given by the 4H RSI which, while the price is on a Channel Up, it has been on a Channel Down, i.e. a Bearish Divergence. The previous time an uptrend broke below its 4H MA50 on the same RSI Bearish Divergence was on the September 30th 2024 High. The result was a strong bearish breakdown to the S1 level. Consequently, we can turn bearish here and aim a little higher than S1 (TP = 1.0400).
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