Divergence on daily chart EURO
After a trend change confirmation at 1.3355 this pair keeps the downside pressure and maintain its short term and mid term downtrend. Any upside move for this pair may need to test 1.316 and 1.3355 main resistance.
Bearish engulfing also seen on monthly chart, we may see downside pressure for some months ahead.
as for now we can see it's making a positive classic divergence, a reversal may happen for the pull back before heading lower. But if the pressure keeps pushing the price downward, we may see a scenario just like GBPUSD last month, getting lower and lower.
Positive divergence also seen on 4h chart MACD histogram, I will post my MT4 chart for daily and 4h chart in the comment below.
Bearish engulfing also seen on monthly chart, we may see downside pressure for some months ahead.
as for now we can see it's making a positive classic divergence, a reversal may happen for the pull back before heading lower. But if the pressure keeps pushing the price downward, we may see a scenario just like GBPUSD last month, getting lower and lower.
Positive divergence also seen on 4h chart MACD histogram, I will post my MT4 chart for daily and 4h chart in the comment below.
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