@zama92 on EURUSD | PriceONN Community

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Z
zama92 PRO newbie
EURUSD Apr 24
This EURUSD action near 1.1720 looks like a hanging man on the H4 chart right before NY open. It’s often a bearish reversal signal, especially after a bit of a run-up. The RSI is also hovering around 62, not exactly overbought but definitely not screaming buy here. I'm watching to see if sellers can push it down from this resistance level.
EURUSD

Replies (1)

Z
zama92 PRO newbie Apr 24
Actually, on second thought, if this hanging man pattern fails and we break above the 1.1725 area, it might be a fakeout. The German news about the economic downturn is really weighing on the Euro, so that suggests upside might be limited anyway. They are probably just letting it tick up a bit to catch some long stops before the real drop.
EURUSD 1.16272 +0.13%
GBPUSD 1.35448 +0.23%
USDJPY 154.31400 -1.23%
XAUUSD 4,413.07 -0.40%
XAGUSD 66.28 +0.18%
BTCUSD 79,082 -1.03%
SP500 6,572.87 +0.74%
BRENT 95.10 +0.89%
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