We've got stuck in a range for 3 days. Now, we can see a famous head and shoulders bottom chart figure, mostly predicting the bullish trend coming back... Let's see
objective 50pips
stop loss -30pips
As sketched on the graph, tenkan, kijun and senkou boxes mutually overlay meaning a possible strong resistance. Moreover, tenkan hit highest since beginning of the month. The next session will be important to determine what will happen next with prices from a technical view.
if the prices increase and break the boxes by an important candle, then they will rise...
Chart is clear on a daily time range.
Hard to know yet how everything will just finish but watch out. Trading the range on smaller time unit might be the best idea for moment.
- If the top triangle limit is broken then it's gonna fly away.
- If the low range limit died then it's gonna dig the chart out.
