The cycles on this currency pair are set up nicely for another drop if I am correct. (See linked idea) On this 4 hour chart we can assume we are in the magnet zone and have divergence on both the histogram and the MA's. I am looking for the recent low to be cleared and convergence on the Histogram ideally. We could see another bounce of this level and another false breakout taking us deeper into the magnet zone so A couple of attempts might be necessary.
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.
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.