From the first look at the chart, we find that the price is going through a large sideways period extending to approximately 440 days, and it is not creating a repression or a new bottom, and this could be normal, especially since it corrects the previous large decline from the top, calms the inflation of the indicators on the weekly frame, and prepares for the next movement... which is from My point of view is that it is extremely bearish for the shaded area below, and it will take alternative currencies to new lows, and only from this area when it reaches it in the coming months. We will update the analysis at that time.
Note: The analysis fails if the price closes above the 380 area
Please clarify that I am helping you with my point of view, which may be right or wrong, and see my previous analyzes of many currencies and forex in order to judge the owner of this analysis with a more accurate look
Good luck
Note: The analysis fails if the price closes above the 380 area
Please clarify that I am helping you with my point of view, which may be right or wrong, and see my previous analyzes of many currencies and forex in order to judge the owner of this analysis with a more accurate look
Good luck
Trade active
Note
It is still valid because the parsing failure condition is not done
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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.