EUR/USD Plausible price action

9 апр. 2018 г.

There is a strong price/RSI bearish divergence on the weekly chart. On the daily, we had a bearish cypher pattern and now the price touches a strong long-term support line. On the other hand, even though the RSI is still bullish, its bullishness declines and that is a sign of a trend weakening and plausible reversal. Therefore, the market is now sideways and we should wait until the next direction movement.
*Disclaimer: this is for educational purposes only*