Presented is a buy technical analysis on the one hour chart.
I mapped out the key supports at the sell off as we can see a pivot at 1.05400 with a support retrace at 1.05600.
Following we can see the MACD/SIGNAL line making the initial cross up through the 0 line. This will increase buyer volume which will increase overall trend momentum. As a result we will see the RSI breach into the overbought zone.
Take profit 1 at 1.06500 to secure profits in case of a pivot with a second entry riding through a potential breach to take profit 2 at 1.07200.
Please comment with thoughts and ideas. Thank you.
I mapped out the key supports at the sell off as we can see a pivot at 1.05400 with a support retrace at 1.05600.
Following we can see the MACD/SIGNAL line making the initial cross up through the 0 line. This will increase buyer volume which will increase overall trend momentum. As a result we will see the RSI breach into the overbought zone.
Take profit 1 at 1.06500 to secure profits in case of a pivot with a second entry riding through a potential breach to take profit 2 at 1.07200.
Please comment with thoughts and ideas. Thank you.
Note
TP 1 hit
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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.