EURUSD Downside Potential
The EURUSD has reversed out of the key "weekly resistance zone" (blue area). RSI "divergence" developed while in the weekly zone signaling the potential move lower. Currently the price action as broken the previous support (lower low). Price has also broken the trend-line low now looking to retest.
Conformation Validity:
1. RSI is below the 50-line (retest)
2. A bearish cross in the Stochastic signal further down move.
Conformation Validity:
1. RSI is below the 50-line (retest)
2. A bearish cross in the Stochastic signal further down move.
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