Presented is a 1 hr chart analysis.
Current sentiment is a breach through .69700 to retest .70100.
We have seen clear support as presented at .69300 with reversals to retest .69700. Following the lates retest of .69700 we see an early support pivot at .69450 disrupting the current straight channel pattern between support and resistance.
Indicators help us determine if the trend will breach current channel resistance. RSI is moving slowing towards overbought zone while we see high volume bar close outs. Good in indication for continuation. SRSI is breaching 50 to correlate with RSI movement. MACD/SIGNAL are now making a cross already above zero line. Another positive indication for continuation.
Look for a take profit retest at .70100. Please comment with thoughts and ideas. Thank you.
Current sentiment is a breach through .69700 to retest .70100.
We have seen clear support as presented at .69300 with reversals to retest .69700. Following the lates retest of .69700 we see an early support pivot at .69450 disrupting the current straight channel pattern between support and resistance.
Indicators help us determine if the trend will breach current channel resistance. RSI is moving slowing towards overbought zone while we see high volume bar close outs. Good in indication for continuation. SRSI is breaching 50 to correlate with RSI movement. MACD/SIGNAL are now making a cross already above zero line. Another positive indication for continuation.
Look for a take profit retest at .70100. Please comment with thoughts and ideas. Thank you.