8-6-08
20:12 GMT – A bullish RSI divergence has appeared on the EUR/USD 60M and 4H charts (more evident on 60M chart below. A bullish divergence is when the price action makes lower lows while the RSI makes higher lows. Overall I think the EU is in a downtrend but this might provide a bump to ease oversold levels.
Trading Idea: If you were to trade this divergence look for long targets above the 1.5400 support at 1.5425, 1.5445 and 1.5475.
(click to enlarge)
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