At the time I’m writing this post, EURUSD is testing the psychological value 1.6. It seems that EURUSD is not getting any resistance in its way up. But is that so? What will happen at this level? If we take a look at the price movements will see some interesting things. The trend is bullish, but in the last period it seems that is loosing power. At a first look I see a rising wedge formation, which usually is not a good sign for bulls. Looking at MACD, Momentum and RSI it is very clear that we have a bearish divergence on every indicator, which is another reason for making the bulls nervous . So, there are two signs that the movement up is weakening. Will be 1.6 a turning point for EURUSD?
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