In this chart, resistance & support shown by using a box. Redline between the chart is a hurdle.
By following the box, we can say that there will be a downtrend. Dynamic resistance shows that if the trend crosses the hurdle, there will be a downtrend.
But if it will not intersect each other and will take a "V" shape there will be an uptrend to the 1.1770 - 1.1800.
It's favorable to buy at the points where candles touch the support line and to sell at the points where candles touch the resistance line.
TARGETS:
By following the box, we can say that there will be a downtrend. Dynamic resistance shows that if the trend crosses the hurdle, there will be a downtrend.
But if it will not intersect each other and will take a "V" shape there will be an uptrend to the 1.1770 - 1.1800.
It's favorable to buy at the points where candles touch the support line and to sell at the points where candles touch the resistance line.
TARGETS:
- Short term investors: 1.1468
- The day traders: 1.1626 - 1.1566