EURUSD Short

Williams Alligator Indicator shows that the lines are creating a ¨sated¨ sell signal, where the lips pass under the teeth and jaw lines, and start to intertwine, while candlestick create a choppy pattern. This indicates bearish momentum.

RSI shows that EURUSD is not overbought or oversold, therefore, a trend reversal or correction is unlikely to happen in the near future.

MACD line and signal line are under the baseline, indicating high bearish momentum.

Candlestick Patterns: Today, a bearish Tweezer Top pattern emerged. The bearish Tweezer Top can be a confirmation to sell. If bearish candlesticks continue to form then bearish reversal can be confirmed.

Overview: Overall, all indicators and candlestick patterns suggest that EURUSD is in a strong bearish trend. A short position is suggested, entry price should be set slightly lower than current price for assurance, and stop loss is set at about +0.25%.