EURUSD: Bearish break-out on 1D. Sell signal for the medium term
The 1D Channel Up has been crossed to the downside (RSI = 39.609, Highs/Lows = -0.0089, B/BP = -0.0094) so the medium term trend has switched to bearish. A 4H Channel Down is emerging (RSI = 33.061, ADX = 22.775, Highs/Lows = -0.0048) pointing towards a 1.1286 Lower Low. If that spot breaks then the price may aggressively search the 1W Support on November's 12th Low at 1.1215. Otherwise it should pull back towards 1.13285 and then attempt successive tests of the December 14th Low = 1.12685 and 1.1215. Those are our sell targets on medium term.
A look at the bigger picture, the 1W Channel Down:
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A look at the bigger picture, the 1W Channel Down:
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