In the past few hours, there have been some interesting price trends here, with a significant decline from the recent low point. If this is purely a random price change, then the Bollinger band indicates that enough has already been done.

However, if these trends indicate a more substantial change in underlying conditions, then the recent uptrend may prove interesting in the coming days.

Due to the recent release of higher lows and highs in prices, a recent positive leg has been created and has returned to the 50% range of the Fibonacci range, calculated based on the nearest leg low distance. The green line on the chart.

The secondary Fibonacci level is usually not as important as the primary movement, but they are still useful in creating areas of potential interest. 31-8% -61.8% of the channels are located near 1.1290-1.1340. If the price trend can break through this channel, it can provide clues for the next stop.

Due to the Bollinger Belt and the current stagnation of price trends in the natural 50% region, prices may already be sufficient and may consolidate in the next few hours. In any such consolidation, recent buyers are less likely to feel nervous, and the 1.1290 area can be held. However, when breaking below the region, recent buyers are likely to exit their positions and create additional selling momentum.

In addition, under long-term negative trends, bears will still be relatively comfortable with their positions, while the price remains below 1.1340. Establishing a small consolidation period in the future, this new range of 1.1290 – 1.1340 may be used to indicate the next more medium-term trend, which is still leaning downwards due to long-term negative trends.