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	<title>
	Comments on: EUR/USD Breakout Fails, Approaching Next Support Now	</title>
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	<link>https://rightsideofthechart.com/eur-usd-breakout-fails-approaching-next-support-now/</link>
	<description>Stock Trading, Investing &#38; Market Analysis</description>
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		<title>
		By: ActiveTrader1232		</title>
		<link>https://rightsideofthechart.com/eur-usd-breakout-fails-approaching-next-support-now/#comment-4902</link>

		<dc:creator><![CDATA[ActiveTrader1232]]></dc:creator>
		<pubDate>Fri, 21 Sep 2018 00:32:44 +0000</pubDate>
		<guid isPermaLink="false">https://rightsideofthechart.com/?p=188057#comment-4902</guid>

					<description><![CDATA[Thank you Randy.  Very informative.]]></description>
			<content:encoded><![CDATA[<p>Thank you Randy.  Very informative.</p>
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		<title>
		By: rsotc		</title>
		<link>https://rightsideofthechart.com/eur-usd-breakout-fails-approaching-next-support-now/#comment-4900</link>

		<dc:creator><![CDATA[rsotc]]></dc:creator>
		<pubDate>Thu, 20 Sep 2018 02:37:44 +0000</pubDate>
		<guid isPermaLink="false">https://rightsideofthechart.com/?p=188057#comment-4900</guid>

					<description><![CDATA[In reply to &lt;a href=&quot;https://rightsideofthechart.com/eur-usd-breakout-fails-approaching-next-support-now/#comment-4898&quot;&gt;ActiveTrader1232&lt;/a&gt;.

Yes, I still have a bullish outlook (intermediate to longer-term) on the EUR/USD. That in no way assures that my analysis is correct but nearly everything that I&#039;ve seen over the past several months has re-affirmed the case that the Euro is in the process of putting in a significant top against the US Dollar.

Although much of the analysis the that I&#039;ve posted in recent weeks has largely been focused on this 60-minute time frame, the much, much more significant daily &amp; weekly time frames (as far as the intermediate &amp; longer-term outlook goes, not the near-term outlook of just days or a couple of weeks like the 60-min charts help with) still look bullish. The first chart below is the weekly chart of the EUR/USD that shows the bounce off the bottom of the support zone that defined the top of the 2.5-year basing pattern in the EUR/USD, a successful backtest of that key former resistance, now support level so far.
Also, note the recent &quot;clean&quot; bullish crossover on the weekly PPO &amp; compare that to the price action in the EUR/USD following the previous &quot;clean&quot; bullish crossovers. Finally, also note the weekly RSI coming off the high-end of oversold readings (70-level) on this most recent pullback. Even in a bear market, initial tags of the 70 level on the RSI often, but not always, produce near-immediate rallies. In a bull market, including early stage bull markets (if this is one) are outright gifts, with prices usually mounting a substantial &amp; lasting rally from there. Only time will tell if this is the latter but so far, it seems that is the most likely scenario by a fair margin to me.

&lt;!-- copy and paste. Modify height and width if desired. --&gt; &lt;a href=&quot;https://content.screencast.com/users/RightSideOfTheChart/folders/Snagit/media/925c3ed0-2e62-49ed-965d-52aa91818f2a/EUR-USD%20weekly%20Sept%2019th.png&quot; rel=&quot;nofollow&quot;&gt;&lt;img class=&quot;embeddedObject&quot; src=&quot;https://content.screencast.com/users/RightSideOfTheChart/folders/Snagit/media/925c3ed0-2e62-49ed-965d-52aa91818f2a/EUR-USD%20weekly%20Sept%2019th.png&quot; width=&quot;1145&quot; height=&quot;749&quot; border=&quot;0&quot; /&gt;&lt;/a&gt;]]></description>
			<content:encoded><![CDATA[<p>In reply to <a href="https://rightsideofthechart.com/eur-usd-breakout-fails-approaching-next-support-now/#comment-4898">ActiveTrader1232</a>.</p>
<p>Yes, I still have a bullish outlook (intermediate to longer-term) on the EUR/USD. That in no way assures that my analysis is correct but nearly everything that I&#8217;ve seen over the past several months has re-affirmed the case that the Euro is in the process of putting in a significant top against the US Dollar.</p>
<p>Although much of the analysis the that I&#8217;ve posted in recent weeks has largely been focused on this 60-minute time frame, the much, much more significant daily &#038; weekly time frames (as far as the intermediate &#038; longer-term outlook goes, not the near-term outlook of just days or a couple of weeks like the 60-min charts help with) still look bullish. The first chart below is the weekly chart of the EUR/USD that shows the bounce off the bottom of the support zone that defined the top of the 2.5-year basing pattern in the EUR/USD, a successful backtest of that key former resistance, now support level so far.<br />
Also, note the recent &#8220;clean&#8221; bullish crossover on the weekly PPO &#038; compare that to the price action in the EUR/USD following the previous &#8220;clean&#8221; bullish crossovers. Finally, also note the weekly RSI coming off the high-end of oversold readings (70-level) on this most recent pullback. Even in a bear market, initial tags of the 70 level on the RSI often, but not always, produce near-immediate rallies. In a bull market, including early stage bull markets (if this is one) are outright gifts, with prices usually mounting a substantial &#038; lasting rally from there. Only time will tell if this is the latter but so far, it seems that is the most likely scenario by a fair margin to me.</p>
<p><!-- copy and paste. Modify height and width if desired. --> <a href="https://content.screencast.com/users/RightSideOfTheChart/folders/Snagit/media/925c3ed0-2e62-49ed-965d-52aa91818f2a/EUR-USD%20weekly%20Sept%2019th.png" rel="nofollow"><img class="embeddedObject" src="https://content.screencast.com/users/RightSideOfTheChart/folders/Snagit/media/925c3ed0-2e62-49ed-965d-52aa91818f2a/EUR-USD%20weekly%20Sept%2019th.png" width="1145" height="749" border="0" /></a></p>
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		<item>
		<title>
		By: ActiveTrader1232		</title>
		<link>https://rightsideofthechart.com/eur-usd-breakout-fails-approaching-next-support-now/#comment-4899</link>

		<dc:creator><![CDATA[ActiveTrader1232]]></dc:creator>
		<pubDate>Thu, 20 Sep 2018 00:50:59 +0000</pubDate>
		<guid isPermaLink="false">https://rightsideofthechart.com/?p=188057#comment-4899</guid>

					<description><![CDATA[The indicators are pointing down.]]></description>
			<content:encoded><![CDATA[<p>The indicators are pointing down.</p>
]]></content:encoded>
		
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		<item>
		<title>
		By: ActiveTrader1232		</title>
		<link>https://rightsideofthechart.com/eur-usd-breakout-fails-approaching-next-support-now/#comment-4898</link>

		<dc:creator><![CDATA[ActiveTrader1232]]></dc:creator>
		<pubDate>Thu, 20 Sep 2018 00:49:17 +0000</pubDate>
		<guid isPermaLink="false">https://rightsideofthechart.com/?p=188057#comment-4898</guid>

					<description><![CDATA[Hello Randy. Do you still have a bullish outlook on EUR/USD?  I am seeing MACD and RSI negative divergence forming on the 1 hour time frame.]]></description>
			<content:encoded><![CDATA[<p>Hello Randy. Do you still have a bullish outlook on EUR/USD?  I am seeing MACD and RSI negative divergence forming on the 1 hour time frame.</p>
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