"The EUR is poised for a reversal."
Updated
The signal of trend reversal convergence will appear when the downtrend turns into an uptrend. At that point, in a downtrend, the subsequent lows will be lower than the previous lows.
However, oscillating indicators behave differently, as they show that the subsequent lows are higher than the previous lows, indicating that the momentum of the downtrend is weakening. This forms a convergence signal.
We can look for opportunities to enter trades at this position with reliable candlestick patterns.
However, it is also worth noting that this is bottom-fishing behavior, and we are trading against the current trend, so caution is necessary because not all signals are 100% accurate.
However, oscillating indicators behave differently, as they show that the subsequent lows are higher than the previous lows, indicating that the momentum of the downtrend is weakening. This forms a convergence signal.
We can look for opportunities to enter trades at this position with reliable candlestick patterns.
However, it is also worth noting that this is bottom-fishing behavior, and we are trading against the current trend, so caution is necessary because not all signals are 100% accurate.
Note
Note
I think EUR price will soon reach 108836Note
Note
EUR will continue to recover
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.