Still within the 1D Channel Down. Short.

Jul 17, 2018

The price rebounded at 6.5652 but the bounce was limited to 8.5217 on another Lower High Rejection within the 1D Channel Down (RSI = 45.058, MACD = -0.755, Highs/Lows = 0). As seen on the 1D chart however, the price has been trading above the median (red dotted line) since the beginning of June, indicating less aggressive bearish bias. We can observe this also on the 1W chart (neutral RSI, ADX, CCI), which indicated that the downtrend on EOSUSD is slowing down. The TP remains 5.9782.