Presented is a buy technical analysis on the one hour chart.
I mapped out the key supports at the sell off as we can see a pivot at 1.05400 with a support retrace at 1.05600.
Following we can see the MACD/SIGNAL line making the initial cross up through the 0 line. This will increase buyer volume which will increase overall trend momentum. As a result we will see the RSI breach into the overbought zone.
Take profit 1 at 1.06500 to secure profits in case of a pivot with a second entry riding through a potential breach to take profit 2 at 1.07200.
Please comment with thoughts and ideas. Thank you.
I mapped out the key supports at the sell off as we can see a pivot at 1.05400 with a support retrace at 1.05600.
Following we can see the MACD/SIGNAL line making the initial cross up through the 0 line. This will increase buyer volume which will increase overall trend momentum. As a result we will see the RSI breach into the overbought zone.
Take profit 1 at 1.06500 to secure profits in case of a pivot with a second entry riding through a potential breach to take profit 2 at 1.07200.
Please comment with thoughts and ideas. Thank you.
Comment:
TP 1 hit