Euro / U.S. DollarShort
Watch 1.15700
EURUSD is approaching yearly pivot R1 reversal level which is at 1.15700. Price broke July roof and is approaching Camarilla R5, from where price usually reverses and drops back to the broken monthly roof (Cam R4 at 1.14000). We also have significant divergence on MACD and RSI (which is also overbought on daily) which also indicate that the bullish move is likely to end. I would watch for a reversal pattern at yearly R1 - monthly Cam R5.
Long term downtrend 2014-2020 on monthly is slightly above as you see.
Long term downtrend 2014-2020 on monthly is slightly above as you see.
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