Price made a clean break of the wedge today, as well as breaching the Mobthly R2
without hesitation. Price is thus closing in on the Yearly R4 !!
How often do one see that?. Yearly R4 at 1,3783. May 2004 reaction high (spike) is at 1,40.
One scenario would be a bounce off the Yearly R4 and retest the broken wedge.
But it may as well just march higher to 1,40 and beyond.
Currently, there is alot of energy built up through a prolonged
sideways action, also shown by the low ATR reading at the bottom of the chart.
without hesitation. Price is thus closing in on the Yearly R4 !!
How often do one see that?. Yearly R4 at 1,3783. May 2004 reaction high (spike) is at 1,40.
One scenario would be a bounce off the Yearly R4 and retest the broken wedge.
But it may as well just march higher to 1,40 and beyond.
Currently, there is alot of energy built up through a prolonged
sideways action, also shown by the low ATR reading at the bottom of the chart.