EURUSD → A 4h timeframe perpective

hello guys...

let's review what happened in eurusd pair!

1- the price made a descending channel and engulfed the last high!

2- the price broke the top line of the channel!

3- the price did a correction until the 50% of the last leg!

4- the price touched the QML level!

Now what is going to happen?!


there are two trendlines in further and one important area (the orange area)

the price is going to touch the trendline then if the price breaks down the orange area the price will touch the lower levels as well- such as 1.07336 and 1.06163.

but if the price makes a reverse pattern in the trendline we can expect another upward wave in this pair!

encountering in the QML illustrates the next main move will be bearish, but let's see what the price gonna do with the orange area!


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Comment:

daily view:

Comment:

so close to breaking down