@melissayoung on EURUSD | PriceONN Community

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melissayoung PRO newbie
EURUSD Feb 19
Has anyone else noticed the increasing bearish divergence on the EURUSD daily chart? The price has been making lower highs, while the RSI is showing higher lows. This could signal a potential trend reversal or at least a significant pullback in the near future. I'm curious to see if others are interpreting it the same way!
EURUSD

Replies (2)

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melissayoung PRO newbie Feb 19
Update: I'm also monitoring the Bollinger Bands closely. The price is currently testing the lower band, which could act as support. However, if it breaks below that level, it would further confirm the bearish momentum. I'll adjust my TP accordingly. This could be a great opportunity!
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ecooper440 PRO newbie Feb 21
@melissayoung, your observation regarding the bearish divergence on the daily chart is astute. I also noted the lower highs in price action juxtaposed with the RSI's higher lows. This divergence, coupled with the market's current consolidation, suggests a potential pullback. However, I'm hesitant to call it a full-blown trend reversal just yet. The 200-day SMA at 1.1841 still acts as a significant resistance level. A confirmed break below 1.1770 would increase the likelihood of a more substantial decline. I will be watching for confirmation of the divergence next week.
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