According to the daily chart, the price is currently following a bearish structure. The most recent break of structure happened at 1.0700 level. The recent bullish movement is the retracement movement, which takes out the inducement liquidity and then begins to react.
On the 4-hour chart, we can see the price is moving upwards by following the bullish market structure. Now it is reacting on a POI. Since the market structure is bearish on the daily time frame, we can anticipate a bearish movement from this POI targeting the short-term POIs marked on the chart. If the price reacts from those short-term POI, then we may see another swing high, but if the price breaks the recent short-term swing low, then we can expect further bearish movement targeting the low of the chart. Please watch the video for detailed insight This top-down analysis is based on the smart money and price action concept. To learn the actual smart money concept trading and how to identify high-potential and low-risk entry points, You can enroll in our course, which is completely free to sign up for. Join The FREE course
