I had been waiting to see if it would break the resistance.
I had/have strength indicators looking for 1.14 and 1.15 zones.
However, banks are banks and news is news.
Yesterday, waiting and hoping that the EURUSD would reseal the previous consolidation zone, it didn't. Marking day 2 of the close under the initial consolidation and generating a new zone. Then the news came out - ECB is open to further cuts.
Well, this had an immediate selling impact of breaking the second zone. That is Bearish.
Prices are trading below the 21 MA again - That is Bearish.
The 14 RSI is Bearish.
And right now, the 8ATR Renko is attempting to paint a new red box after painting two greens. That is Bearish.
Don't play emotion, play the charts.
Everything is stopped screaming BUY, BUY, BUY and is now screaming SELL, SELL, SELL.
I had/have strength indicators looking for 1.14 and 1.15 zones.
However, banks are banks and news is news.
Yesterday, waiting and hoping that the EURUSD would reseal the previous consolidation zone, it didn't. Marking day 2 of the close under the initial consolidation and generating a new zone. Then the news came out - ECB is open to further cuts.
Well, this had an immediate selling impact of breaking the second zone. That is Bearish.
Prices are trading below the 21 MA again - That is Bearish.
The 14 RSI is Bearish.
And right now, the 8ATR Renko is attempting to paint a new red box after painting two greens. That is Bearish.
Don't play emotion, play the charts.
Everything is stopped screaming BUY, BUY, BUY and is now screaming SELL, SELL, SELL.