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EUR/USD Outlook

 

The EURO -0.05% has moved relentlessly forward since the beginning of the year and has climbed from 1.0340 to 1.1264 but with last week hitting the major 38.2 Fibonacci level and prices putting in a doji reversal candle, it may be time for the EURO -0.05% to head south. On the Weekly, theTDI -0.27% RSI line is outside the upper volatility band and is inside the reversal channel above 63. The RSI is also headed south.
Price is also at the upper side of a well-defined down channel .
On the DTF, price has recently crossed south over the signal line and market line and with market base line in the upper channel a move back to the centre is favoured.
H4 TF TDI -0.27% is BULLISH so we may see a move north before the next leg down.
H1 TDI -0.27% is similarly BULLISH and a move back north for a retest of 1.1190 has possibilities.
Look to SELL below 1.1100 or on a move back to 1.1190 area.
Price now 1.1152

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