Weekly Forex Chart:

Last 2 weeks where strong bullish weeks. But this week we have started in bearish movement. RSI is going up very fast. At this moment it is at 59. As well we have now green bullish divergence and both trixes are green and going up.

Daily Chart:

Strong bullish trend. But RSI is inside overbought zone. Right now it is at 87 and still going up. We have 2 green bullish divergences. Both trixes are green. Both of them are going up. Fast trix is already in overbought zone.

4 Hours Chart:

Neutral trend. RSI is moving slowly down and away from overbought zone. Right now it is at 56. Both trixes are red. And trixes are one on top of other. They are not moving anywhere.

Hourly Chart:

Neutral trend as well. RSI was moving fast into oversold zone. Right now it is at 17 and it is still going down. Trixes are crossed and both are red. As well we had 2 red bearish divergences. Fast trix is near oversold zone.

Weekly Fibonacci Pivot Line is at 1,28457 and we are still moving high above it. We are at 1,31611.

Weekly Support Lines:
1,27755
1,27078
1,25974
1,24846
1,24169
1,23467

Weekly Resistance Lines:
1,29561
1,30689
1,31366
1,32068
1,33272
1,34275

Plan:
As we see trends are changing week after week. Bad news for Euro-zone and lowering credit ratings for several country’s did not yet make a impact on market, so expect that in following days.

Most Related Posts

• No Related Posts Found