Facts:

• MACD trends lower after bearish crossover with bearish divergence occurring on RSI
• Potential double top formation has occurred which can lead to trend reversal
• Target at 61.8% Fibonacci retracement level has previously acted as support which now might be retested as resistance
• FOMC became more hawkish

Recommendation:

• Transaction: Short position on EURUSD at the market price.
• Target: 1.06592
• Stop: 1.09806

Opinion:

EUR/USD is on the brink of a trend reversal after forming a double-top pattern. The MACD is trending lower following a sell signal (bearish crossover), while the RSI remains in bearish divergence despite the currency making a higher high. A stop-loss is set above the previous high, which would invalidate this thesis. The take-profit target is at the 61.8% Fibonacci retracement level, which has previously acted as support. Additionally, the FOMC has recently adopted a more hawkish stance.

Octalas AI

الربح

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