EURUSD Clash between the 1D and 4H time-framesEURUSD is trading within a long-term Channel Down on the 1D chart (left) that made yesterday a Lower High and a Channel Up on the 4H chart (right) which has just crossed its Higher Low trend-line.
It is hard to know which of the two pattern will prevail (i.e. the 1D Channel Down with its Lower High rejection will break the Channel Up downwards, or the 4H Channel Up will rebound and break above the Lower High trend-line of the Channel Up), but most likely whichever breaks first, that might be the next long-term trend.
A few pointers to keep in mind:
* The 1D MA50 (blue trend-line on the left) has been crossed two sessions ago, but not convincingly so far and it is applying selling pressure (Resistance).
* 1D Bullish Cross on the MACD (left). Very powerful indicator, last time that took place on July 13 and EURUSD then rose by more than 6%.
* Emerging Golden Cross on 4H (right) but last time (September 15-21) was invalidated.
* 4H Bearish Cross on the MACD (right). Excluding the Channel Up, on the Channel Down it marked every drop after a Lower High.
Which direction do you think EURUSD will break to?
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