Trend reversal signals have been issued
USD is moving strongly against most major currencies. On the chart, the price, after a sharp ascend, declined smoothly. different indicators have issued trend reversal signal and ascending trendline has broken. The overall look of the chart is bearish.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.13430 with resistance at 1.13700 which both lines are above the weekly pivot point at 1.13100. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving above 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
Considering the correction pattern, EURUSD will be headed towards 61.8 level of Fibonacci at 1.12700.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.