Possible upward movement of the pair. The price is currently in a lower limit zone of trading with significant volume, maintaining rejections by the low part of the price right at the EMA of 55 periods, fundamental in my strategy for the analysis of possible trend continuations. We also see significant development in the Squeeze momentum indicator and MACD histogram monitors, with signs of directionality shifting to bullish on 4-hour timeframes. We see the ADX indicator accompanying below the 23 level, indicating the weakness of the previous move higher in bouncing towards the 55 period EMA to, from my perspective, continue higher, as past movements have indicated; along with a possible buy signal pattern on the MACD lines. I think we are in a compression zone on higher timeframes, so I am projecting a rally that does not reach the previous highs. They entered in timeframes of one hour in favor of the expected movement in timeframes greater than 4 hours, in what I determine is a possible range, entering from the bottom, which, if successful, allows us to efficiently calculate a stop and have a good risk-benefit ratio.
Trade closed manually