By: Doug Rosen
We start out today on the EUR/USD daily chart with price up against the 50.0 fib level and the lower Bollinger band sharply pointing up.
The 5 ema however, has sharply crossed below the 13 ema and is heading down towards price. What I really expect is for price to meet up with the 5 ema then crash down.
On the 4 hour weekly pivot chart price is below the central pivot at 1.3749 and the 13 ema is crossing below it and the 5 ema is pushing price down. There is nothing else in the way of price on this chart until the M2 pivot at 1.3501.
Moving on to the hourly weekly pivot chart price is below the ema's and appears to be heading down and the lower Bollinger band is open and pointing down. Nothing in the way of price on this chart before the S2 pivot at 1.3617.
Finally, onto the 15 minute daily pivot chart I see that price has made a swing fib to the 50.0 level which overlapped witht he 55 ema then took a dive. The 5 ema is beginning to cross below the 13 and 21 and price is just below the M2 and the stochastics is pointing down. Looks like price may very well be on its way down.