The breakout of the resistance of the wedge confirmed the end of the correction, after fixing the price above 2300 the market allowed us to get an impulse of almost 700 pips and test the area of 2378.
At the moment the market is still bullish. The favorable fundamental and technical background (2356), together with the fall of the dollar index continues to motivate buyers.
After updating the local high of 2378, a stop and correction is formed. The price may reach 2350-2340 before continuing its way up.
Resistance levels: 2378, 2400, 2417
Support levels: 2350, 2340, 2327 2356
2350 plays an important role as it divides the chart into bullish and bearish area. A false breakout is possible, but in general we should watch the price reaction to the liquidity area. Also, the zone of 0.382 and 0.5 Fibo is important. The market is bullish and it is worth prioritizing long positions
At the moment the market is still bullish. The favorable fundamental and technical background (2356), together with the fall of the dollar index continues to motivate buyers.
After updating the local high of 2378, a stop and correction is formed. The price may reach 2350-2340 before continuing its way up.
Resistance levels: 2378, 2400, 2417
Support levels: 2350, 2340, 2327 2356
2350 plays an important role as it divides the chart into bullish and bearish area. A false breakout is possible, but in general we should watch the price reaction to the liquidity area. Also, the zone of 0.382 and 0.5 Fibo is important. The market is bullish and it is worth prioritizing long positions