EURUSD, H4
On the H4 timeframe, the EURUSD pair navigates within an ascending channel and faces the crucial resistance at 1.1200 and the upper border of the channel.
The MFI oscillator shows a bearish divergence with the price, putting pressure on the asset.
EURUSD, H1
On the H1 timeframe, there is a DeMArker strategy setup. the DeMarker Oscillator is emerging from the overbought zone, and the Parabolic SAR has shifted to above the price, giving a bearish sentiment.
However, two scenarios are possible:
- If the EURUSD breaks above the 1.1200 resistance it will continue the bullish trend to the 1.1320 and the 161.8 Fibonacci;
- If a corrective decline occurs, it will drop the price to 1.1130 and the golden Fibonacci pocket.
