EURUSD FOUND SUPPORT, READY TO BREAK THE CHANNEL🔥
EURUSD has been trading within the descending channel since the beginning of the descending channel. Recently the price reached the major trendline, graph started to show the bullish divergence on the RSI .
What is a bullish divergence?
A technical analysis pattern where the price makes lower lows, but a momentum indicator (e.g., RSI, MACD) forms higher lows, signaling weakening bearish momentum and a potential trend reversal upward.
So, another hike in this pair is expected. Possible direction: spike towards the SMA200, minor pullback and a further development of the bullish impulse.
EURUSD has been trading within the descending channel since the beginning of the descending channel. Recently the price reached the major trendline, graph started to show the bullish divergence on the RSI .
What is a bullish divergence?
A technical analysis pattern where the price makes lower lows, but a momentum indicator (e.g., RSI, MACD) forms higher lows, signaling weakening bearish momentum and a potential trend reversal upward.
So, another hike in this pair is expected. Possible direction: spike towards the SMA200, minor pullback and a further development of the bullish impulse.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join me, I'll guide you to PROFITABLE TRADINGđź’µ!
Telegram Channel: t.me/forextradersliveofficial
Telegram Channel: t.me/forextradersliveofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.