EURUSD (6 month chart)

9 thg 12, 2023

In the long-term scale , the chart has turned from the bottom of the blue channel to the top, and it can be the top of this hypothetical target channel. But in the short term scale has returned from near the downward trend line and can test the bottom of this blue channel again and even break it. Both things can happen. In terms of time steps, the time of the upward step is large, but the strength of the dollar has caused the bottom of the channels to break, and the bottom of the blue channel may also break. It is better to use the trends of small time frames for trading and be ready at any moment and warn of reversal of trends and directions. At the moment, it is going down and you should have a completely bearish thinking. Unless the trend of the 5-minute time frame is bullish.