EURUSD Monthly Projected Price Movement
There is no guarantee! No one can predict exactly the next price movement. However, this is what the chart is telling me now.
Price is bottoming at a dynamic support level with bullish divergence. Sells are coupled with high volume trades, indicating buys are taking up much of the supply preparing for a rise in price for distribution purposes. MACD is close to crossing bullish, RSI is greatly oversold at 5%, ADX is getting exhausted at 88%, DMI buys are oversold and may cross bullish soon, Stoch RSI has crossed bullish as a leading price movement indicator. The take profit level can be around the fib level of 50% to be conservative below the 61.8% since there is a supply zone that will most likely cause price to drop from open orders remaining from the previous drop where investors are ready to sell as soon as price reaches that level. At this level, the pattern will form the top of the right shoulder and drop to the take profit length of the neck to the top of the head which will result in a very bearish drop. Additionally, we can see from the green price level of the EMA scalper that many times prior price has extended to these bottom levels, a push in price upward occurred.
Price is bottoming at a dynamic support level with bullish divergence. Sells are coupled with high volume trades, indicating buys are taking up much of the supply preparing for a rise in price for distribution purposes. MACD is close to crossing bullish, RSI is greatly oversold at 5%, ADX is getting exhausted at 88%, DMI buys are oversold and may cross bullish soon, Stoch RSI has crossed bullish as a leading price movement indicator. The take profit level can be around the fib level of 50% to be conservative below the 61.8% since there is a supply zone that will most likely cause price to drop from open orders remaining from the previous drop where investors are ready to sell as soon as price reaches that level. At this level, the pattern will form the top of the right shoulder and drop to the take profit length of the neck to the top of the head which will result in a very bearish drop. Additionally, we can see from the green price level of the EMA scalper that many times prior price has extended to these bottom levels, a push in price upward occurred.
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