In 31st Oct, the candle has been form a hammer candle on the orange resistance rectangle, which means there is a possibility of changing direction from downside to upside.
Stoch RSI is crossed, which means the buying momentum is about to pump.
Buy entry is in. SL: 0.6525, TP 0.681. The reason of TP @0.6810 is seemed going to form head and shoulders pattern....
Pull back is over now. We have multiple long wick on the resistance level at $0.67 in 1 hour time frame. We should see market volatile as soon as US market open. The next profit target is between $0.63-0.64.
1. The stochastic RSI is under oversold zone, indicates down trend continuation.
2. EMA 50 indicates down trend as well.
3. The trend have 3 red candle in a row from 14th to 16th Oct. 17th green candle closes below 16th red candle which means buying momentum is still not strong. I will say this is retest to level $0.67 only.
