(1D):
The higher timeframe is still showing a strong uptrend but keep in mind that the underlying fundamentals are playing a big part these days. Trump vs Biden and the current rising restrictions in Europe, which could harm EUR zone economies
(4H):
Back to the technicals, on a lower timeframe we can see that after the channel break, the price came all the way back and actually found some rejection at the 61.8 fib retracement level, also aligning with previous relevant swing lows. If this holds, more upside movement could be expected.
(1H):
If we zoom in again, we can see a descending channel formed, which means the price trending down short term. Since we follow the overall trend, though, we are waiting for it to be broken to the upside, looking for a long position
The higher timeframe is still showing a strong uptrend but keep in mind that the underlying fundamentals are playing a big part these days. Trump vs Biden and the current rising restrictions in Europe, which could harm EUR zone economies
(4H):
Back to the technicals, on a lower timeframe we can see that after the channel break, the price came all the way back and actually found some rejection at the 61.8 fib retracement level, also aligning with previous relevant swing lows. If this holds, more upside movement could be expected.
(1H):
If we zoom in again, we can see a descending channel formed, which means the price trending down short term. Since we follow the overall trend, though, we are waiting for it to be broken to the upside, looking for a long position