OCEANUSD
Price found support at previous resistance, indicating more upward movement.
Reasons to be bullish
1) RSI above 55 on daily
2) MACD still showing green on daily TF
3) breaking resistance and now turned into support - best indication of bullish formation.
4) Above all MA on daily TF
5) Price consolidating at previous resistance
Recommended entry : 1.37-1.4 current support levels
Targets : USD 2.2 (1.382 fib) and USD 2.4 (1.5 fib)
Analysis will be invalidated if daily price close below 1.32.
Price found support at previous resistance, indicating more upward movement.
Reasons to be bullish
1) RSI above 55 on daily
2) MACD still showing green on daily TF
3) breaking resistance and now turned into support - best indication of bullish formation.
4) Above all MA on daily TF
5) Price consolidating at previous resistance
Recommended entry : 1.37-1.4 current support levels
Targets : USD 2.2 (1.382 fib) and USD 2.4 (1.5 fib)
Analysis will be invalidated if daily price close below 1.32.
Comment:
There is no change in the setup, heading to USD 2.2 in next few days as analysed