EURUSD Divergence warning
The euro currency is starting to rise against the US dollar as risk-on trading sentiment improves, following a raft of positive data points from the US economy. The one-hour time frame shows that bullish MACD divergence has formed during the recent multi week decline and extends towards 1.1835. Failure to break under the 1.1710 level could result in the bullish divergence being reversed.
The EURUSD pair is only bullish while trading above the 1.1800 level, key resistance is found at the 1.1835 and 1.1890 levels.
EURUSD pair is only bearish while trading below the 1.1800 level, key support is found at the 1.1730 and 1.1710 levels.