EUR/USD Weekly analysis 12-May-2024

12 mag

I still think the head and shoulders are formed on the daily time frame
And after the failure of the lower line of the right shoulder, pullback has happened
And I expect to see a downward trend this week
If 1.0723 breaks, I expect 1.0693, then 1.0644 and 1.0609
And otherwise, if it breaks 1.0830, it is an upward move (which I consider weak).

Monthly time frame:
- We are in the middle of the month and after a red candle with a long upper shadow, an ascending candle was formed (which I think is a pullback).
- The price is on the MA20 range
- MACD; Below zero is the range
- RSI; It is on the 50 range
- Stoch RSI; Divergence and tendency to decrease

Weekly time frame:
- Last week, it closed with a doji candle
- MA20,50,100; They are almost in line with each other and below the MA200 and above the price
- MACD; is the range
- RSI; Below 50 tend to decrease
- Stoch RSI; Below 50 and there is no sign of a tendency to increase

Daily time frame:
- The price reached MA100,200 with a green candle, but it decreased again
- MACD; on zero
- RSI; It is above 50 and in the range
- Stoch RSI; Close to 100 and tend to decrease

4H time frame:
- Bearish candle on MA20
- MACD; Close to zero and tend to decrease
- RSI; Close to 50 and tend to decrease
- Stoch RSI; From nearly 100, down

*** Be prosperous

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12 mag

Trade attivo

13 mag

Nota

It seems that the trend will be downward