The EURUSD 4hr chart looks to be putting in a 3-drives to a top formation at the moment with the RSI sitting just under 70 on this being the 2nd drive.
I would like to see the third drive take place in very early August and see it coincide with a test of 1150 on the S&P.
If this occurs and the RSI looks weak we may very well have the makings of a strong move lower.
Interesting as you say Arfer about price hovering some places. Notice the daily bearish outside bar from 20 July has still not been broken to the upside...
Interestingly enough, with the benefit of hindsight, we have not actually had a true sell signal yet since the upturn began.
I would like to see the third drive take place in very early August and see it coincide with a test of 1150 on the S&P.
If this occurs and the RSI looks weak we may very well have the makings of a strong move lower.
Interesting as you say Arfer about price hovering some places. Notice the daily bearish outside bar from 20 July has still not been broken to the upside...
Interestingly enough, with the benefit of hindsight, we have not actually had a true sell signal yet since the upturn began.