EU broke the triangle. I assume it will retest the trendline before continuing the movement upwards.
MACD shows the momentum shift upwards but still I will wait for the current high to be confirmed.
MA 50 and MA 100 are close to the price. They will provide support, their slopes have just turned up showing the sign of an early uptrend
My Stop loss will go just below the mid-line of the triangle
Take profit will be 1.11442, making a double top and continuing down.
2nd TP will be 1.12311 as it is a resistance level as well as fib extension -18 lies there, which is most likely for the market to reach as the market bounced back from 76.4.
Thank you for reading this. Happy trading
MACD shows the momentum shift upwards but still I will wait for the current high to be confirmed.
MA 50 and MA 100 are close to the price. They will provide support, their slopes have just turned up showing the sign of an early uptrend
My Stop loss will go just below the mid-line of the triangle
Take profit will be 1.11442, making a double top and continuing down.
2nd TP will be 1.12311 as it is a resistance level as well as fib extension -18 lies there, which is most likely for the market to reach as the market bounced back from 76.4.
Thank you for reading this. Happy trading