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EUR/USD – Bearish Divergence in 15 Minutes chart

Wednesday, November 2, 2016 23:38
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(Before It's News)

eur-usdTrend is up in EUR/USD currency pair, fifteen minutes time frame. Short term support is present at 1.1084 price level.

Using standard MACD settings, (12,26,9) we could easily notice bearish divergence. This means price has printed higher swing highs and higher swing lows. Where as, MACD historgram bars have printed lower highs and lower lows.

I would suggest traders to look for a possible top in price of EUR/USD currency pair in coming trading hours. However; a good idea is to first wait for the market action to drop below 1.1084 support level to confirm a top before going short.

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