RDNUSD and RDNAUD weekly pattern
Comment:
It made it to first target point.
lets wait and see if there would be any reversal , or would it continue to grow and reach the second target.
-Will be updated-
lets wait and see if there would be any reversal , or would it continue to grow and reach the second target.
-Will be updated-
Comment:
Look at the monthly and weekly movements
WEEKLY
MONTHLY
WEEKLY
MONTHLY
Although it has a very promising weekly trend, it is also has been following a channel, hence this is a very heavy resistance line for RDNUSD that can reverse the trend for a while.
If it get through this point Channel Fibo- 1.6 and 2 are the profit targets and of course the next heaviest resistance ahead.
However, if bullish trend fails, we have to wait until we see the next support lines which could be CF-0.5 or even the bottom of the channel.
Happy trading
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JUST FOR EDUCATIONAL PURPOSE