EUR/USD- 1 Hour overview

Hello everybody!

-On a 1-hour time frame, we can see a very strong movement in a bullish direction.

-Now we can see that the price is testing and rejecting resistance with a solid bearish candle.

-We can see that the price is forming a strong bearish candle and we can also see that the price is in the overbought condition on a stochastic indicator.

-If the price forms a solid bearish engulfing candle, that will be a very nice sell signal and we can expect that the price may fall until it reaches the support zone.

-On a 4-hour base, EUR is stronger than USD and on a 1-hour base, USD is stronger than EUR.

-If EUR remains stronger on a lower time frame we can expect that the price may keep moving in a bearish direction and if GBP remains stronger than USD then we may expect bullish movement.

-WHAT DO YOU THINK ABOUT THIS SETUP?
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-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.