You judge or dodge our analysis on this pair; here are some of the statistical evidences of the historic outcomes of our forecasts. Just have a glance on it and then you’re free to comment your critics.
It’s been approximately 3 and half months ago that we had traced out 3-white soldiers pattern that miraculously signaled , as a result we’ve seen bulls surged in mammoth.
For more reading on our previous write on this pair, please follow below weblink:
Almost 674 pips jump (or 8.75%) in its entirety considering the recent highs of the pair ever since we analyzed this pattern.
Well, all we could say by now is those who’ve religiously believed those technicals would have minted or saved money in huge, rest everything is history by now.
Yes, it’s been a bit delayed effect but better late than ever.
Currently, the pair has evidenced more than 61.8% Fibonacci retracements when bulls made the bottoms at 0.6975 levels and rejected exactly at 78.6% levels (see monthly charts).
Our bets, for now, is to catch the decisive dips to build fresh longs as we could still foresee the momentum in the rallies.
and have been indecisive being in overbought trajectory but still no clarity for selling indications, so we can’t afford to jump the guns.
Moreover, both leading and lagging indicators have been absolutely bulls favour.
Most significantly, volumes during such journey have been mammoth and we don’t think nothing else is needed to conclude the of this pair.
Hence, the recommendation for the long term investors is not to “buck the trend”.