Midterm forecast:
While the price is above the support 0.6805, beginning of uptrend is expected.
We make sure when the resistance at 0.7145 breaks.
If the support at 0.6805 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
The RSI bounced from the resistance #2 at 58 and it prevented price from more gains.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.
While the price is above the support 0.6805, beginning of uptrend is expected.
We make sure when the resistance at 0.7145 breaks.
If the support at 0.6805 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
The RSI bounced from the resistance #2 at 58 and it prevented price from more gains.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.
algorithmic trader - I have quantified sentiment necessary for trading elliott waves
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
algorithmic trader - I have quantified sentiment necessary for trading elliott waves
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.