Potential long position for what concern this pair.
In the last month we saw a new high set from 2020, passing the previous Covid high, taking out also the January of 2016.
However the candle close with a big wick.
For what concern the eventual targets I'm considering the wick high or the Fibonacci extension.
In the last month we saw a new high set from 2020, passing the previous Covid high, taking out also the January of 2016.
However the candle close with a big wick.
For what concern the eventual targets I'm considering the wick high or the Fibonacci extension.
Note
In the Weekly timeframe there is a gap on the opening on Monday, but we can see that after the big bullish candle (which create the new High) there was a correction the next week.After this correction the price start to slow down, until it reach one of the EMA's set, closing the first week just around it and almost the second week (which close tomorrow).
The price is also In the "Golden zone" of the Fibonacci retracement.
Note
At 1D there is a sort of Double bottom pattern, and we can see that the yesterday's candle closed bullish, with the body above the previous area that we can consider the "neck line".My Stop cover the daily low and for what concern the target I'll consider the previous high as potential one and also the first Fibonacci extension at 2.22 circa at -27.2%
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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.