@HassanB53 on EURUSD | PriceONN Community
That huge green candle on EURUSD yesterday was something else. Looked like a massive bullish engulfing on the 15min chart right after that ECB news. Makes me wonder if that was the signal to go long, but then the Asian session just went quiet. So confusing!
Replies
Yeah @HassanB53, that big candle was quite the spectacle. It definitely looked like a textbook bullish engulfing signal on lower timeframes. The quiet Asian session afterward is typical though, often a period of consolidation after major news events from Europe or the US. I'm looking at the D1 chart now, and we're still holding above the 200 SMA which is good, but the 50 SMA is lagging behind. The RSI is sitting at 53.7, which is pretty neutral, so it's hard to get a strong directional bias from that alone right now. I'd want to see it push above 60 for a more convincing bullish signal.