EURUSD - Potential Reversal ⁉️

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

on DAILY: Left Chart
EURUSD has been overall bullish trading inside the flat rising channel in brown, and it is currently approaching the lower bound / trendline and support zone.

Hence, we will be looking for trend-following buy setups on lower timeframes.

on H1: Right Chart
EURUSD formed a valid channel in red but it is not ready to go yet.

For the bulls to take over, we need a momentum candle close above the last high marked in gray.

In this case, we will expect a shift in momentum from bearish to bullish.

Meanwhile, until the buy is activated, EURUSD would be overall bearish and can still trade lower inside the support.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich