After rapid growth price consolidates and seems to be forming bullish pennant pattern. It is know as trend continuation pattern. We expect price to break above resistance in a few days and move up approximately same distance as it did prior to consolidation.
Currently we are waiting on price action. If it breaks through resistance we expect another rapid growth to the target of 1.14900 with possible slight correction to 1.14200 before it reaches next important resistance level.
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Currently we are waiting on price action. If it breaks through resistance we expect another rapid growth to the target of 1.14900 with possible slight correction to 1.14200 before it reaches next important resistance level.
Thank you.
Follow me for more trading ideas.