Some Bullish Signs and Testing of the Monthly Pivot Point
Price has found support by the completion of the minor
ABCD and is now trading above the Monthly pp, and
is testing the Yearly S2 and Kijun sen (white line), and also
breaching the Monthly pivot point, Next resistance level
will be the top of the Kumocloud and Weekly Pivot point.
Above that Sma 200. A close back below the Kumocloud
will give a Kumobreak sell signal. Still, chances are price will
try to complete the ABCD pattern at 1,12 before a resumption
of downtrend will appear. Any sharp drop that will take out the
C-level of larger ABCD pattern at 1,0615 will expose
previous lows and Monthly S1 at 1,0380. The longer term
target from higher tf analysis, in my view, stands at 0,93.
ABCD and is now trading above the Monthly pp, and
is testing the Yearly S2 and Kijun sen (white line), and also
breaching the Monthly pivot point, Next resistance level
will be the top of the Kumocloud and Weekly Pivot point.
Above that Sma 200. A close back below the Kumocloud
will give a Kumobreak sell signal. Still, chances are price will
try to complete the ABCD pattern at 1,12 before a resumption
of downtrend will appear. Any sharp drop that will take out the
C-level of larger ABCD pattern at 1,0615 will expose
previous lows and Monthly S1 at 1,0380. The longer term
target from higher tf analysis, in my view, stands at 0,93.