From this 4 – hour plot, we can see that the price of EURUSD moves within a downward channel recently, not a significant angle; however, still a signal for the end of the upward trend. The previous upward trend had lasted for more than two months, stable and mild, until the end of May, the downward channel showed up. Now, the downward channel has been there for 280 hours. Although waves are steep, they all stayed within the channel.
I know a channel is not enough to prove a trend, so let’s find something else. The Bollinger Bands do not show a shrink or expansion. However, we can observe that the Bands stop going up and seem to hold a downward trend. Also, we can see three downwards tests within the channel. The price was trying. Ichimoku stops overlap with the price line; now it goes up; this could also be considered a bearish signal.
Bear power does not show a significant signal here; it needs time to react. Standard Deviation now cools down from a big wave. As we know, Standard Deviation reflects the stability of the price; so, this could mean that the price could stay in this trend for a while.
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