Daily Chart of the EURUSD Pair Testing Support Zone
The daily bar chart of the EURUSD futures contract traded on Globex has a support zone plotted. Now, I will watch the TradeFlow chart of the contract to see if buyers come in. I still view the RSI as flashing bullish momentum readings. It is critical that the RSI does not close below 38 on a daily bar basis. That would signal a bearish momentum environment.
The early look at the TradeFlow Chart for the EURUSD shows the price action diverged with the TF5Um5D study (line A versus line B) signaling sellers were not gaining control when the market went to a new low. However, the price action ran up to the resistance zone, and the buyers backed away as indicated by the TF5Um5D study turning down.