The price has bounced at the daily support level, broke, and retested the trendline.
Pros: This level has acted as both support and resistance level, has recently been respected, and it’s obvious.
Cons: the USD index is unpredictable these days and can reverse at any time. The 50EMA is right above the price and no long wicks.
Pros: This level has acted as both support and resistance level, has recently been respected, and it’s obvious.
Cons: the USD index is unpredictable these days and can reverse at any time. The 50EMA is right above the price and no long wicks.
Note
Pros: The price rejected the weekly resistance level, forming long wicks and loss of momentum. The price has then broken and retested the ascending triangle at the 0.618 Fibonacci Retracement level. The price has rejected the 50EMA. I am considering a SHORT entry with TP1 and TP2. Cons: the USD index is unpredictable these days and can reverse at any time.
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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.