US Dollar a Safe Haven as COVID rampages Europe
Undisputed: priceline is fording lower highs and lower lows. Descending formation and the breaches beyond several support levels imply that the price will bottom out at lower levels.
Indicators:
RSI (Relative Strength Index) and MACD confirms affirm the bearish direction. Expect a minor retrace before further drops. 100 period EMAs, WMAs and SMAs point to further fall. Bullish buyers will yield as MACD signal lines crossed over to the downside next to red histogram bars. RSI hovers close to oversold levels and confirms the negative bias.
From all indication, I'm expecting a further 150 pip drop. There could be a fake 50 pip stop-hunting bullish spike during the drop. Don't be fooled
Indicators:
RSI (Relative Strength Index) and MACD confirms affirm the bearish direction. Expect a minor retrace before further drops. 100 period EMAs, WMAs and SMAs point to further fall. Bullish buyers will yield as MACD signal lines crossed over to the downside next to red histogram bars. RSI hovers close to oversold levels and confirms the negative bias.
From all indication, I'm expecting a further 150 pip drop. There could be a fake 50 pip stop-hunting bullish spike during the drop. Don't be fooled