EURUSD, 4-Hour, Possible correction

מעודכן

I consider a possible downtrend correnction or even a trend reversal on the Euro-USDollar pair. Price drew a good trend reversal pattern which cointains a false breakout of the trend line and then a new, lower low. But I think it is only a correction, not a reversal. The US Dollar's foundations are stronger than the Euro's. The scenario will be fulfilled if the price goes up slowly (as a sign of weakness) around mid-September and then goes strongly down breaking the last price lows. The signal of confirmation is the divergence of the RSI on the daily interval. The false broken trend line has been since Feb '22.

הערה

Double top?

הערה

Be careful on Monday. It might be too early for longs.

הערה

It was a nice demand reaction today.

הערה

The supply zone reached with an ideal rebound from the trend line.

הערה

This scenario has aged nicely.

MichaelFX_ICT

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