EURUSD – Hidden bullish divergence opens 1.3620 ahead of 1.3820 levels!

EURO-Dollar-min

As shown on the daily chart below, the pair has formed a strong bullish pattern, according to daily %R – Williams, It has formed a hidden bullish divergence, this is a trend continuation pattern, there’s a risk to spike to the upside towards 1.3620 levels in 1 or 2 days.

Support comes at the 1.3187/1.3205, losing both levels, would reverse risks to the downside, If seen, It would extend weakness towards the 1.3060/1.3000 levels.

On the upside, neckline comes at 1.3400 levels, break of 1.3400 will target the 1.3620 levels, a clear break will expose 1.3710 and target 1.3820 levels.

In all, as long as 1.3187/1.3205 levels hold on a daily closing basis, the pair will remain biased to the upside with risks towards the 1.3620 levels ahead of 1.3820 levels.

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

2 COMMENTS

  1. Hidden bullish divergence means : be careful of short trades above support level, the market might spike to the upside suddenly without a warn !!!!

Comments are closed.