EUR/USD H4 Chart Indicates Seeling Pressure May Be Mounting

Russell Shor, CFTe, MFTA FXCM

The below is the H4 chart of the EURUSD. The last leg up may be a correction (2-3 swing). The previous candle (2nd to last) indicates selling pressure may be mounting. In order for a downward swing to lock in the RSI(9) must dip below 50 as this is the side of the indicator that denotes an underlying bearish momentum. We continue to monitor.

Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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