The currency markets will either be trending or in sideways action.The other important factor is the currency markets will be trending in one time frame and will be in sideways action in another time frame.For example in a daily time frame chart it will be showing a trend and in 4 hour chart it will be showing a sideways action.EURUSD Daily time frame chart is shown above wherein the price is trending down.The 20 SMA is slanting down and price is below 20 SMA .Hence the price is trending down.The 4 Hour chart of EURUSD is also shown above where you can observe the 20SMA is flat and the price is in sideways action.
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