We have seen this pair progress Bearish over the past few days. On the 4 hour and the 1 hour charts, which would be our primary focus for this analysis, the market has been Bearish.
But today we have seen a trend shift on the 1 hour. the 1 hour chart has turned Bullish today.
Taking a close look at the 4 hour (using the multi time frame analysis taught by Panzy Pips fx), we see that the 4 hour has completed 1 down PB and is not retracing Bullish. That is the bulishness we are witnessing on the 1 hour. We are expecting this bullishness to hold monentarily to help give us the needed retracement on the 4 hour bearish swing.
In another analysis, we will look at the 4 hour from the retracement perspective, marking out our PB and refining it to our reversal zone.
And in yet another analysis, we will look at the market from the current bullish perspective as played out on the 1 hour. The essence of the 1 hour bullish analysis is to see how far we would expect the retracement to go, comparing it with our refined reversal zone of the 4 hour.
With these pieces of information, we should be able to have a clear direction of market movement, with an added advantage of narrowing it down to actual reversal zones.
But today we have seen a trend shift on the 1 hour. the 1 hour chart has turned Bullish today.
Taking a close look at the 4 hour (using the multi time frame analysis taught by Panzy Pips fx), we see that the 4 hour has completed 1 down PB and is not retracing Bullish. That is the bulishness we are witnessing on the 1 hour. We are expecting this bullishness to hold monentarily to help give us the needed retracement on the 4 hour bearish swing.
In another analysis, we will look at the 4 hour from the retracement perspective, marking out our PB and refining it to our reversal zone.
And in yet another analysis, we will look at the market from the current bullish perspective as played out on the 1 hour. The essence of the 1 hour bullish analysis is to see how far we would expect the retracement to go, comparing it with our refined reversal zone of the 4 hour.
With these pieces of information, we should be able to have a clear direction of market movement, with an added advantage of narrowing it down to actual reversal zones.
