EUR/USD Daily - Possible Bullish Reversal
Tuesdays close on the 1D chart gave us a bullish hammer. Depending on the outcome of Wednesdays daily close we may have a sign for a bullish reversal.
RSI is sitting around 35 which may also give the indication the trend has tired out.
Strategy:
Wait for Wednesday close.
If we close above 1.1025 (the hammers high) then I will be looking for a long position.
If we close below 1.1000 the possibility of bearish continuation is in sight, then I will be opening a short position.
RSI is sitting around 35 which may also give the indication the trend has tired out.
Strategy:
Wait for Wednesday close.
If we close above 1.1025 (the hammers high) then I will be looking for a long position.
If we close below 1.1000 the possibility of bearish continuation is in sight, then I will be opening a short position.