Furthermore just above the lies another that has been respected more than 2 times, therefore taking this trade LONG at the moment might not be the smartest of ideas as it can easily reverse. Have a look at the main chart that displays all the above chart pattern and . Its advisable for the to break so we can finally enter a LONG trade. Our target would be the DAILY 50 that lies at the region of 127.000 level.
Have a look at the above daily snapshot of the chart. it shows the price is confined in a triangle after the flash crash that took place a few days ago. it has clearly respected the triangle and as it seems the price is showing further evidence that its headed up after rejecting the lower of the triangle.
Shall there be any updates i will post them in a new thread. this is just the analysis behind this trade setup although it goes deeper than this i have just put some important technical picture only. cheers and happy trading