On the weekly timeframe, we have a sideways market. The current short-term trend vector is 5-6
Comment:
Looks like the price will initially climb to 1.10.
Comment:
The seller reached the target of 1.065 four weeks after the forecast. The price followed the main scenario. As a reminder, on the weekly chart, there is a sideways trend, and the seller's vector 5-6 has reached the mandatory target. I will monitor the actions of the buyer.
On the daily timeframe, the seller initiated a downtrend. The seller's latest impulse is not yet complete (a buyer candle is needed to finish the impulse). The key daily resistance of the downtrend is 1.09812.
Despite the price being in the lower part of the sideways trend on the weekly timeframe in the buyer's zone (blue background at point 4 of the sideways trend), there is currently nothing indicating purchases. There is a possibility that the seller will go lower to 1.0516 and 1.04482 (the lower boundary of the sideways trend on the weekly timeframe).
By the way, note how the buyer failed to overcome 50% (1.10458) of the seller's last impulse on the monthly timeframe.
On the daily timeframe, the seller initiated a downtrend. The seller's latest impulse is not yet complete (a buyer candle is needed to finish the impulse). The key daily resistance of the downtrend is 1.09812.
Despite the price being in the lower part of the sideways trend on the weekly timeframe in the buyer's zone (blue background at point 4 of the sideways trend), there is currently nothing indicating purchases. There is a possibility that the seller will go lower to 1.0516 and 1.04482 (the lower boundary of the sideways trend on the weekly timeframe).
By the way, note how the buyer failed to overcome 50% (1.10458) of the seller's last impulse on the monthly timeframe.
Good luck with your trading!