EURUSD: Key Resistance May Give The Uptrend a Break

29 Tem 2017

I will post a series of post with median line analysis in most of the pairs, analyzing the higher timeframes to see where we stand and what to wait for in the upcoming week. In my first post in EURUSD what we may see looking at the daily chart is that price is clearly in an uptrend and has reached the sliding parallel of the upsloping median line set where previously found very good resistance. Looking at the lower timeframes we may see that we have a MACD bearish divergence a sign that this upmove is losing it's steam and there is a good probability that we make have a reversal. In the chart below you may see a strategy on how you may trade EURUSD in case this daily resistance level holds.

Hourly chart: