As you see in the 4H chart, after a sharp downtrend, price made a bullish reversal wedge pattern and broke it to the upside.
Currently, price is bouncing in a little descending channel and has been pushed to the upside after approaching to the yesterday’s low at 1.1830 (S1).
MACD shows a positive hidden divergence.
On the other hand, there is a strong resistance level at 1.19 which is around the weekly and monthly highs.
First of all, I expect a rise to the channel’s upper band and if price could break 1.19 and close above it, we can expect more rise to 1.1970 and then 1.2050
Currently, price is bouncing in a little descending channel and has been pushed to the upside after approaching to the yesterday’s low at 1.1830 (S1).
MACD shows a positive hidden divergence.
On the other hand, there is a strong resistance level at 1.19 which is around the weekly and monthly highs.
First of all, I expect a rise to the channel’s upper band and if price could break 1.19 and close above it, we can expect more rise to 1.1970 and then 1.2050
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Follow My Instagram:
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youtube.com/channel/UCLVMX3VGgdo8d02jF99SihQ