EURUSD Price Movement Analysis: Let's take a closer look at EUR/USD price action. The euro continued its decline, breaking below the lower boundary of the ascending channel at 1.16179, the beginning of the uptrend. This suggests a trend reversal and justifies the previous left-hand correction. While the situation appears clear at first glance, the sudden, unexpected, and particularly sharp pullback made short entry difficult. Re-entries are challenging given the distance of stop losses and the uncertainty surrounding the decline from 1.23179, the beginning of this trident pattern. The downtrend is accelerating toward the bottom, and after a correction to the upside, we plan to re-enter the downtrend while monitoring the depth of the current price decline and the overall situation.
It remains unclear whether this is simply a correction of the uptrend from 1.16179, an extension of the decline, a correction from 1.07229, or a return to breakeven. On the 4-hour chart, technical indicators suggest a revision and breakout from the downtrend, but the 1.20629 level remains a barrier. However, intraday trading, especially today's trading activity, is not favorable for buyers. GBP/USD indicates an inevitable reversal point at the high of 1.39179, and based on daily analysis, a reversal is likely. While the hourly chart indicates a potential downside, attention is currently focused on GBP/USD, which has formed a "shark" pattern on the upside. We plan to sell significant amounts of currency at this point, especially for investors looking for significant profits. The current situation is favorable, and we are waiting for the right timing for a strong uptrend. There is room for strategic maneuvering in anticipation of Fed action.
