#eurusd $eurusd #trading

2 versions of the trend in play using 4hr charts:

 

This first one uses 13-144 emas in the usual fibo steps with a 26/52 period ichimoku cloud.

This second one uses another version of multiple MAs that I prefer, with a 200period cloud for comparison.










Both versions continue to show a downtrend, but with momentum studies oversold (second chart) and positive divergence in the MACD (first chart).

A final push down to retest the 1.3501 low should be enough to see a retracement, but the 24 pip range bar envelope appears to be rolling downhill, after yesterday' sidewards action. I have added the 50-61.8% fibos for a possible move nearer 1.3480, which assuming the envelope holds its shape, would keep the 4hr trends above, in a downward direction. Until something occurs to change the format of these studies, best to assume that there is more of the same to come, regardless of any bounce out of today's possible low. Having said that, I'll be releasing my shorts again below 1.3501 on any spike down and hoping for something stronger uphill!