EURUSD Bearish Divergence

Jan 24, 2017Bearish divergence is a good signal telling us that an uptrend is going to reverse. We can see on the chart that price tried to reach the resistance level 1.0800, but it looks like bulls have no power for pushing the market higher. It's time to think about short trades. We can sell when price breaks below the uptrend line. Stop orders must be placed above the local swing high or the resistance level. Take-profit orders should be placed at the support level 1.0500. Don't forget about proper money management rules.