DislikedEURUSD
Hi all, can anybody give me advice on the analysis of the EURUSD 4Hr and 1Hr MACD please. At the moment it is trading at 1.4491, and I would like it to see it come down to the 21 SMA. This is based upon a maybe ½ formed round top coming about and that we are below the 89 thus depicting a downtrend. In addition, the 1 Hour is showing selling towards the 21 SMA. Any feedback would be much appreciated.
Many thanks,
C
The dashed purple line is the 21 and solid purple is the 89.Ignored
I see what you see. Price has pulled significantly away from the 8ema and might be trying to pull back just a little. The question, as always is, how much. The EU has put in a nice little run up, but we're still below the 89. The 365 is coming into play as well, it's right there with the 8 so that may turn into support if price makes it's way down there....