As you can see, the EURUSD is in a very strong
downtrend channel. The red marked ranges
show the 0.618 Fibonacci level. After reaching
that level, the price meets the supply and
reaches the bottom of the channel.
The range entered a short position and this is
our first scenario. Also, the existence of
divergence indicates the end of downward
trend. wich can be expected to grow up to the
one-to-one level if the specified channel is
broken and the price range on it.
downtrend channel. The red marked ranges
show the 0.618 Fibonacci level. After reaching
that level, the price meets the supply and
reaches the bottom of the channel.
The range entered a short position and this is
our first scenario. Also, the existence of
divergence indicates the end of downward
trend. wich can be expected to grow up to the
one-to-one level if the specified channel is
broken and the price range on it.
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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.