Hi all! I'm back again. There is a bullish divergence on all oscillators I use. EU found support in the 2927 to 2937 4H support area.There is price action a dividing line @1.2974 zone on the 1H TF. Here's the first 4h chart with all the trend lines and the mess. I'll clean it up later.
Cleaned up 1h chart (bullish divergence):
What is the trend on 1H TF? Some could say is down and some that is neutral ATM. I still think that the trend is down until the pair makes a HH above 1.3000 level. In the very short term above 2874 more bulls below more bears. Two trend lines in the zone tightening. The purple one on the bottom of the pic is a rising daily trend line. It's tricky now on this levels ..
Support and resistance all on the charts + 2 trend lines .. recipe for more consolidation?
Can divergence also be wrong? Of course it can:
There was some bullish move, but only a pullback and then continuation south.
So, to answer the question where from here (1.2970) ...
Remember: every SR level/zone can be a reversal one. The arrows are just of informative nature.
Trade what you see and not what you want to see!