Directional analysis
Presented is a 1 hr simple directional analysis pending a break through channel resistance or support.
A break and close out above 1.07400 followed by a bullish bar may indicate bullish movement to retest next resistance of 1.0800.
A break and close out below support 1.07100 followed by a bearish bar may indicate continuation to retest next support of 1.06400.
Pending the outcome out RSI and MACD will react. Bearish movement will trigger MACD/SIGNAL to reverse just under 0 line while RSI breaches below 50. Bullish movement will trigger MACD/SSIGNAL line to cross through 0 line while RSI breaches 50 with continuation.
Be patient on entry. Please comment with comments and ideas. Thank you.
A break and close out above 1.07400 followed by a bullish bar may indicate bullish movement to retest next resistance of 1.0800.
A break and close out below support 1.07100 followed by a bearish bar may indicate continuation to retest next support of 1.06400.
Pending the outcome out RSI and MACD will react. Bearish movement will trigger MACD/SIGNAL to reverse just under 0 line while RSI breaches below 50. Bullish movement will trigger MACD/SSIGNAL line to cross through 0 line while RSI breaches 50 with continuation.
Be patient on entry. Please comment with comments and ideas. Thank you.
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