@finley87 on EURUSD | PriceONN Community

Spent some time this weekend analysing the EURUSD charts. I'm seeing a potential bearish divergence forming on the weekly timeframe, with price making higher highs but the RSI failing to follow suit. This could suggest weakening bullish momentum and a possible trend reversal in the coming weeks. However, it's important to note that divergences are not always reliable signals and should be used in conjunction with other technical indicators. I'll be keeping a close eye on the MACD for confirmation. A crossover below the signal line would further strengthen the bearish case. My strategy will be to look for shorting opportunities on rallies towards the 1.17 level, with a stop loss placed above recent highs. Risk management is paramount, especially in the current volatile market environment.