Well ladies and gents, my job here is done... XRPUSD finally broke the 0.6400 level and that was it as I was saying (Check my previoius ideas for context).
Happy Trading
Finally!!! The breach of 0.60138 Resistance is here...
The close is really convincing considering three weeks of bullish momentum, and the current week is already down significantly (at least 50% of the previous week candle), possibly for a retest of the resistance. If the current candle flips up, past the 0.74490 wick then 0.8500 can be the next target.
Follow...
Based on my previous analysis of XRPUSD, a bullish momentum will be confirmed by the break of the resistance at 0.60138 key level... We are seeing more and more weekly candles fail to break that level.
On the update, the previous week seems to be respecting the golden area at 0.54539. If a support forms here, it could be a monthly bottom wick to continue up.
On...
Based on my previous idea of a bullish run:
XRPUSD failed to close above resistance after filling the range towards the 0.63250 price mark... Let's see how this week goes!
A steeper bottom wick at the Golden Fib Zone will be a good entry for those that want to go long to fill the wick.
Or price could range between "minor resistance" and "minor support" until...
The break of 0.63250 is still in progress...
There are a few confluences that are signalling a bullish scenario playing out
1. Price could finally closed above the minor resistance at 0.60138 it only has a day and less than 20 hours to close, which could mean at the break of the high, the range towards 0.63250 could be filled
2. There is a Golden Cross
3. A...
Based on the analysis from last week, a break of the previous week high could have further pushed the price of this pair higher. Possibly towards the psychological mark of 200.00.
This idea was also validated by the formation of the support level at the 186.97 mark, which is the Feb 2024 support that is keeping price up from going towards this year's low at...
After 5 weeks of blood on this pair that saw the price slip on a banana peel from 205.995 past the psychological mark of 200.00 and continued to melt all the way down to 186.974, the previous week candle might inspire hope for the bulls.
As we wait for the macros this week, we might see a comeback to the 200.00 psychological mark. The current candle barely...
Looking at previous data (Every time price broke above the 0.66155 )
1. 11 Dec - 17 Dec 2017 Week
- Price rallied all the way past 0.91723 to 3.31700 before the huge sell off the following week which saw price go all the way to 0.57!
2. 09 Apr - 15 Apr 2018 Week
- Price rallied up past 0.91723 to 0.96490, not as impressive as the first rally. Then a...
Technical Analysis
Recently we've seen GOLD resistances on multiple timeframes... The surge 3750.8 points on Friday was very crucial in breaking the resistance on the daily (2383.69). The weekly breaking the resistance at 2392.07 from 4 weeks back is a bullish move and since there is no much resistance level after 2392.07, GOLD should easily make a fresh all...
