The triangle is broken - we retest and go to 117.77:
Good afternoon, dear readers!
Last week comment:
The asset formed a triangle, the breakdown of which occurred this week. Given how quickly it happened, we can say that the currency pair is likely to demonstrate a return to it.
Only after that, she will be able to continue her growth to 117.77 - the previous high - level.
The results of the week: an increase of 0.27% or +31 points.
H1 (Technical) -H4 (indicative)
The currency pair will be able to continue to develop its trend up after some correction, as the hourly charts look oversold.
Most likely the pair overcame the downward pressure and in the near future we should see new high levels.
Indicative analysis provides the following information:
The asset approaches a potential sales area;
The price behavior indicator shows that the price has approached the boundaries of normal behavior.
=> The most likely scenario, excluding force majeure, involves the correction of a currency pair:
A) The pair will continue to grow after correction to the channel breakdown zone.
Global Variables:
• Volatility: Weekly = 89 points // Monthly = 106 points // Quarterly = 97 points.
• Trends: Continuation of the downtrend, the 55 - day average is below 100 - day and 200 - day.
• Range Ratio: 154 points (Drop from 336 points).
Recommendations:
We recommend purchases in this currency pair. At the same time, you can use 2 shopping options:
Wait for the pair to adjust to the breakdown level and buy at this level.
Open now ½ of the standard lot, and in case the price reaches the retest, open another ½ of the standard lot.
Fixing positions should be on the last high - level 117.77.
Feet at the bottom of the triangle.
With best regards!
Wermelgion & Partners Invest.
Profitability of WMCI Asset Management Fund + 10.93% for May;
Profitability of HMS Royal Oak + 14.53% for May;[/I]
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
Last week comment:
The asset formed a triangle, the breakdown of which occurred this week. Given how quickly it happened, we can say that the currency pair is likely to demonstrate a return to it.
Only after that, she will be able to continue her growth to 117.77 - the previous high - level.
The results of the week: an increase of 0.27% or +31 points.
H1 (Technical) -H4 (indicative)
The currency pair will be able to continue to develop its trend up after some correction, as the hourly charts look oversold.
Most likely the pair overcame the downward pressure and in the near future we should see new high levels.
Indicative analysis provides the following information:
The asset approaches a potential sales area;
The price behavior indicator shows that the price has approached the boundaries of normal behavior.
=> The most likely scenario, excluding force majeure, involves the correction of a currency pair:
A) The pair will continue to grow after correction to the channel breakdown zone.
Global Variables:
• Volatility: Weekly = 89 points // Monthly = 106 points // Quarterly = 97 points.
• Trends: Continuation of the downtrend, the 55 - day average is below 100 - day and 200 - day.
• Range Ratio: 154 points (Drop from 336 points).
Recommendations:
We recommend purchases in this currency pair. At the same time, you can use 2 shopping options:
Wait for the pair to adjust to the breakdown level and buy at this level.
Open now ½ of the standard lot, and in case the price reaches the retest, open another ½ of the standard lot.
Fixing positions should be on the last high - level 117.77.
Feet at the bottom of the triangle.
With best regards!
Wermelgion & Partners Invest.
Profitability of WMCI Asset Management Fund + 10.93% for May;
Profitability of HMS Royal Oak + 14.53% for May;[/I]
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
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