EUR/USD CMP 1.1765
The direction of this pair gives you the direction of the other asset classes. Hence very imp to get the direction correct.
Fib- the pair has halted at fib confluence at 1.1996. Hence we know its a strong resistance. That it has halted at 50% from a lower swing is indicating the trend to be still weak.
Composite- At price resistance we have a -ve divergence in the composite. This is an indication of trend reversal.
Key Reversal- on the daily charts on the right we have the directional signal, confirming the reversal in trend.
Conclusion - the reversal in trend here will mean a reversal in trend in the other asset classes. Commodities, equity world wide should reverse direction. Hence crude which is flying high today will eventually reverse.
The direction of this pair gives you the direction of the other asset classes. Hence very imp to get the direction correct.
Fib- the pair has halted at fib confluence at 1.1996. Hence we know its a strong resistance. That it has halted at 50% from a lower swing is indicating the trend to be still weak.
Composite- At price resistance we have a -ve divergence in the composite. This is an indication of trend reversal.
Key Reversal- on the daily charts on the right we have the directional signal, confirming the reversal in trend.
Conclusion - the reversal in trend here will mean a reversal in trend in the other asset classes. Commodities, equity world wide should reverse direction. Hence crude which is flying high today will eventually reverse.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.