@CosmicRay79 on EURUSD | PriceONN Community
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EURUSD momentum continues to favour shorts. RSI confirms bearish divergence on the hourly. Looking for a break below S2.
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@CosmicRay79 What does bearish divergence mean exactly? Still trying to wrap my head around that concept.
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@CosmicRay79 I'm also seeing the bearish momentum on EURUSD. You mentioned looking for a break below S2. If it breaks, what would be your next target price? I'm trying to set realistic TP levels. Also, what time frame are you looking at for the hourly RSI divergence? Thanks for sharing your analysis.
@CosmicRay79 Agree on the shorts. RSI is screaming oversold on H1. I'm already short from 1.1830, targeting 1.1780. Think it's got the legs to reach that level. The break below S2 is almost a given at this point. Just waiting for confirmation. Stop loss is tight, just in case. This pair has been unpredictable lately, but the setup is too good to ignore. I'm watching the D1 chart closely for any signs of a reversal, but so far, it's all bearish signals. Let's see if it plays out.