The price has crossed the level of 3.000 and now it is approaching the upper band of the expanding diagonal in the vicinity of 3.230 level. It will be a decisive point for the next price movement.
Once reaches it, the price will bounce will bounce it and retrace towards 3.000 level. 2.820 should be considered as the next support level since it is a lower band of our diagonal formation.
In the second scenario, the upper band of the formation will be broken to the up and the price will head towards 3.430 level.
Once reaches it, the price will bounce will bounce it and retrace towards 3.000 level. 2.820 should be considered as the next support level since it is a lower band of our diagonal formation.
In the second scenario, the upper band of the formation will be broken to the up and the price will head towards 3.430 level.
Comment:
The price pierced 3.220 level with a strong move, increasing the chances for the 3.430-target scenario.
As long as we stay above 3.220, the parity will be tempered to reach 3.430 level as next.
3.000 will be our strong support if the price is suddenly pressed down.