Hi Traders!
As you can see, the market is now in a downtrend.
But the downtrend is very old and the power of it gets weaker.
The last strong move the market did was the bearish wedge pattern.
It moved down, then it made a consolidation wedge, after that it moved exactly that lower again.
If you look at the H4-Timeframe, the support at around 0.96300 is not broken with strong momentum as it should for continuing the trend.
Instead, it stopped moving and is even moving in the other direction, towards the Resistance.
Possibly it is going to make a double top, but on the 1H-Timeframe we set our TP there.
We recommend to buy the trendchange with a TP at the next resistance.
Thanks and good luck :)!
As you can see, the market is now in a downtrend.
But the downtrend is very old and the power of it gets weaker.
The last strong move the market did was the bearish wedge pattern.
It moved down, then it made a consolidation wedge, after that it moved exactly that lower again.
If you look at the H4-Timeframe, the support at around 0.96300 is not broken with strong momentum as it should for continuing the trend.
Instead, it stopped moving and is even moving in the other direction, towards the Resistance.
Possibly it is going to make a double top, but on the 1H-Timeframe we set our TP there.
We recommend to buy the trendchange with a TP at the next resistance.
Thanks and good luck :)!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.