"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: