EUR/USD:Price Retest 50% Fibo+100 SMA on Resistance AREA SHORT
As Explained yesterday
The release of yesterday's news ( CPI ) doesn't change our general Vision of the price, today the market opens with a bearish impulse by the EURO, and the price in the H12 timeframe had a pullback on the 100 sma after retesting the 50% Fibo level on the resistance area ( White rectangle ) and the Stochastic ( In Divergence ) finally is out the overbought area ready to drop. Same Divergence in RSI gave a sign for a bearish looking. In general, looking at the chart we can see clearly all the clues are on the Bearish side for the EURO.
The release of yesterday's news ( CPI ) doesn't change our general Vision of the price, today the market opens with a bearish impulse by the EURO, and the price in the H12 timeframe had a pullback on the 100 sma after retesting the 50% Fibo level on the resistance area ( White rectangle ) and the Stochastic ( In Divergence ) finally is out the overbought area ready to drop. Same Divergence in RSI gave a sign for a bearish looking. In general, looking at the chart we can see clearly all the clues are on the Bearish side for the EURO.
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