we have multiple resistance's, one even dating back from August 3rd 2016. On the daily price is being squeezed. Price has failed at this resistance trend line multiple times and doesn't look like it has the strength to break it now, however if price breaks above the trade will be invalid.
Two wonderfully slope trendline pointing downwards. Three touches on the top and two on the downside. It took more than 3 weeks to develop this reversal pattern. About half of the formation act as consolidations of the prevailing trend. A breakout to upwards is eminent and of course, can buy after after the breakout.
PRICE WILL CONTINUE ITS OVERALL BEARISH OUTLOOK, DESPITE THIS. A SHORT TERM BULLISH TRADE SEEMS IMMINENT. ENTER A BUY TRADE JUST ABOVE THE 1.44039 LEVEL, IF PRICE WILL BREAK THROUGH THRESHOLD. ON THE ATR, WE'RE SEEING AN INCREASED VOLATILITY. TRADE WITH CARE.
PRICE WILL HIP THE 1.48685 SUPPORT LEVEL. PRICE SHOULD BOUNCE BACK TO 1.4964 LEVEL. ENTER TRADE AT 1.48685. STOP LOSS JUST BELOW 1.48138. LIMIT IS 1.49464. STOCHASTIC/RSI IS BELOW 20.
after testing the support on 1.4582 twice the price pull back and we are looking now to see the price on 1.48202 resistance area and looking for a caution there then for the next resistance after the break up