This pair is in bullish since a long time, if trend reversal is found then it will be fantastic rally, but currently all indications are in favor on going Long.
Bullish Indications:
1- Bullish Rally on 1H, 4H, 1D since Oct 2022
2- Current Support Line at 1.68312 is Fib Retracement 0.236 and this support line was major support since Nov 2021 till Mar 2022 since it broke now in 15th Dec 2022
3- Next Resistance is expected at 1.73692
4- Trend line is respected many times on 1D view
5- Continuous buyers pressure can bee seen on 1D candles 1H
6- Continuous HHs & HLs on 1H Candles since 3rd Nov 2022
8- No divergence found currently but Overbought can be seen on 1D chart
Plan A:
Long
Entry: 1.68398
SL: 1.66215
TP1: RRR1
TP2: RRR2
TP3: RRR3
Bearish Indications:
1- if support is broken and become resistance it become strong resistance at 1.67808
2- if trend line is broken on 1D view then bearish trend can be expected
3- if trend is reversed then it will be a great ride
Plan B:
Short
entry : below 1.67808 (current Support)
SL: 1.70000
TP1: RRR1
TP2: RRR2
Bullish Indications:
1- Bullish Rally on 1H, 4H, 1D since Oct 2022
2- Current Support Line at 1.68312 is Fib Retracement 0.236 and this support line was major support since Nov 2021 till Mar 2022 since it broke now in 15th Dec 2022
3- Next Resistance is expected at 1.73692
4- Trend line is respected many times on 1D view
5- Continuous buyers pressure can bee seen on 1D candles 1H
6- Continuous HHs & HLs on 1H Candles since 3rd Nov 2022
8- No divergence found currently but Overbought can be seen on 1D chart
Plan A:
Long
Entry: 1.68398
SL: 1.66215
TP1: RRR1
TP2: RRR2
TP3: RRR3
Bearish Indications:
1- if support is broken and become resistance it become strong resistance at 1.67808
2- if trend line is broken on 1D view then bearish trend can be expected
3- if trend is reversed then it will be a great ride
Plan B:
Short
entry : below 1.67808 (current Support)
SL: 1.70000
TP1: RRR1
TP2: RRR2
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.
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.