EURUSD: Upside seems to be over

2017年8月29日

EURUSD pair reached towards new highs and the price is in a clear Bullish channel since March. It's all the matter of time and once we break below 1.1750 we would easily see the downside levels near 1.1300. I am Bearish on the pair as we have seen RSI 5 on the level where it was almost 10 years before. Weekly RSI 5 is at its 13 years high and now its time for a reversal. I would suggest to sell EURUSD from current levels and we have a big chance to earn more than 500 pips. Price has touched the monthly cloud and I expect a rejection from there. Price just needs to break below 1.1750 then there is deep ocean below that level.
Recommendations: SHORT at 1.20300 with Stop loss at 1.23000, First Target 1.17500, Second Target 1.13500 and the third target at 1.1000.

Good Luck..