"Top and Bottom Analysis" EUR/USD by ThinkingAntsOk
4H CHART EXPLANATION:
Main Items we Observe on the Chart:
-Price is inside a descending channel and is close to facing the lower trendline
-On MACD we observe a bullish divergence
Based on this, we think the price can retest the lower trendline of the descending channel before starting a bullish movement.
On higher timeframes, we can see the weakness of the current descending trend.
We are not going to take any stand yet until price retest the trendline or a breakout of the descending trendline.
MULTI TIMEFRAME VISION:
- Weekly:
-Daily:
Main Items we Observe on the Chart:
-Price is inside a descending channel and is close to facing the lower trendline
-On MACD we observe a bullish divergence
Based on this, we think the price can retest the lower trendline of the descending channel before starting a bullish movement.
On higher timeframes, we can see the weakness of the current descending trend.
We are not going to take any stand yet until price retest the trendline or a breakout of the descending trendline.
MULTI TIMEFRAME VISION:
- Weekly:
-Daily:
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.
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.