EURUSD Double Bearish Divergence

Jul 3, 2017

It looks like we'll have good short opportunity for EURUSD. Price reverses from the resistance zone and we can see the double bearish divergence which is formed by price and RSI. It's a strong reversal signal which is near the strong resistance level. RSI confirms price reversal. MACD shows up movement but probably tomorrow MACD histogram will reverse and start falling supporting down movement. DMI confirms strong up trend and for safe selling it will be better to wait for falling ADX line. After getting these signals we'll have good short opportunity. We should open sell trades based on the market price or use pending orders below the low of the signal candle for entry. Stop orders must be higher than 1.14500 level. Profit target can be at MA50 and 1.1000 level.