EURUSD - Up-Movement at different Layers - MTFA

23 Oca 2022

*** Trade at your own risk! ***
*** Not every idea is also traded by us ***

Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and afterwards some bullet points.



Monthly TF:



- Strong monthly Trendline got broken
- Now price is retesting it
- If the Retest is successful, an Up-Movement is very likely
- We can see signs that the Retest is successful, because there are Wicks which shows Rejection

--> Up-Movement expected




Weekly TF:



- Additionally to the Monthly TF, the mostly respected 61,8% Fibonacci Level increases the strength
of this Support




Daily TF:



- Break of daily descending Trendline
- Now price retests the descending TL
- Price gets support at the ascending TL
- Downtrends with its LHs and LLs ends --> Now we have HHs and HLs

--> Trend Change




H4-TF:



- A successful Retest could be performed via the Inverted Head and Shoulders Pattern
- If the market breaks the upper Resistance Area, an Up-Movement is very likely




H1 TF:



- MACD Oscillator showing bullish Divergence



If you have any questions, another POV or anything else to share, feel free to do so!




Thanks and successful Trading :-)!