This is a 4 hr chart of EURUSD.
After a strong “Go” move this pair has taken a pause, moving sideways and slightly against the trend after we saw a GoNoGo counter-trend arrow near the recent high.
During this consolidation, the GoNoGo Squeeze has climbed to its high, indicating reduced volatility as the GoNoGo Oscillator rides the zero line.
If we can come out of the Squeeze with positive momentum we’d expect a green re-entry circle and a new leg higher in the "Go" trend.
After a strong “Go” move this pair has taken a pause, moving sideways and slightly against the trend after we saw a GoNoGo counter-trend arrow near the recent high.
During this consolidation, the GoNoGo Squeeze has climbed to its high, indicating reduced volatility as the GoNoGo Oscillator rides the zero line.
If we can come out of the Squeeze with positive momentum we’d expect a green re-entry circle and a new leg higher in the "Go" trend.
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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.