on the monthly chart (yearly overview) price is trading in a parallel bearish trendline currently making its way up from the the bottom trendline of the channel. fresh and original demand level of proximal price @ 0.88590 indicating that current price is driven by bullish momentum.
drilling down to the daily chart (monthly overview) price formed several full OCLH candlesticks above a bearish parallel channel indicating further confirmation of presence of bullish momentum in the currency pair pushing price to highs @ 0.90030 where price retraced to react to price level of interest @ 0.89220 which acted as support driving price higher.
i have bullish targets at weekly supply peak of proximal price @ 0.92700 with position(s) of risk, reward 1:4 with stops 65 pips from entry price.
major technical used :
supply and demand
put together by : Pako Phutietsile , currencynerd
presented by : currencynerd
courtesy of : currencynerd , TradingView
there is supply for every demand
drilling down to the daily chart (monthly overview) price formed several full OCLH candlesticks above a bearish parallel channel indicating further confirmation of presence of bullish momentum in the currency pair pushing price to highs @ 0.90030 where price retraced to react to price level of interest @ 0.89220 which acted as support driving price higher.
i have bullish targets at weekly supply peak of proximal price @ 0.92700 with position(s) of risk, reward 1:4 with stops 65 pips from entry price.
major technical used :
supply and demand
put together by : Pako Phutietsile , currencynerd
presented by : currencynerd
courtesy of : currencynerd , TradingView
there is supply for every demand
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