OBSERVATION of an 8 hour chart:
Price makes lower and lower tails each session, but the volume also gets lower an lower, hitting support.
Volume Divergence: The price was positive in the Asian session after making a lower candle wick low. Then, in London and the US sessions, the candle kept on making new lower wick lows; however, the volume got smaller and smaller.
My interpretation is that bears are less confident in adding and joining into the down move. Also, we hit a slower trend line. This tells me that prices in EURUSD are undervalued. It is probably time to buy.
Price makes lower and lower tails each session, but the volume also gets lower an lower, hitting support.
Volume Divergence: The price was positive in the Asian session after making a lower candle wick low. Then, in London and the US sessions, the candle kept on making new lower wick lows; however, the volume got smaller and smaller.
My interpretation is that bears are less confident in adding and joining into the down move. Also, we hit a slower trend line. This tells me that prices in EURUSD are undervalued. It is probably time to buy.
Комментарий:
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
Even tough EURUSD bounced of the daily/8 hour trendline, I think we need to break the highs of all three sessions to break the hesitation of the bears and convert them into buyers once again.