It seem like EUR/USD rebound from the trendline.
This seems like a very strange trend for 1H dynamics. Mostly because the Medium of that trend is being tested 3-4 times, for around 2/3 of the duration of the trend before going down. I would suggest that the down red line is shifted upward and we check up whether what we have now is an extreme drop down of the main 1H channel ;-) Wishing you profitable trading.
You're welcome. Try to adjust your models with time. The picture on your computer is constantly in progress. Feel flexible to consider different scenarios, and follow the one that seems closest to your mind. Always be ready for an alternative. There are multiple upward and downward trends in action. Some realise in the shorter term, while others take effect in longer terms. Good luck and thanks for nice comment for my chart. I am also a scholar on Forex. Important is that we open up our mind and imagination and never stop learning new things about this challenging matrix! Cheers! ;-)